The package, which will run alongside its existing independent advice model, is expected to be available in the market in Q2, and will offer a flexible, bespoke approach to what AXA Wealth currently offers by way of support and pricing.
With estimates of anything between 20 to 80 per cent of IFAs shifting to a restricted model it is clear that a number of advisers still need support and guidance on this subject. AXA Wealth is urging advisers that are still uncertain on which advice model to adopt to make a decision about the type of advice and services that they are going to offer their clients as soon as possible.
Advisers need to give considerable thought to what type of service their clients require post-RDR and whether clients actually might value their expertise, skills and return on their investments much higher than an independent status, which may have a higher cost base and resource implications than the restricted route.
David Thompson, managing director, marketing and distribution, AXA Wealth, says:
"There's no doubt that the RDR is going to change the landscape of financial advice. It will shift the focus away from ‘which product' to ‘which service', and the value of that service from a client's perspective. AXA Wealth's offering includes award-winning adviser support services, with specialist skills in business transition.
"We are RDR-prepared and offer expertise on investments, platforms, retirement solutions and savings, and are extremely well placed to assist advisers in an area that we feel many are looking for guidance on.
"We believe there will be a very healthy whole of market sector and we will continue to support this fully; we do however want to offer flexibility in our approach for advisers who are considering a different route."
