AXA Wealth is set to launch a restricted advice pricing and service package for those advisers considering restricted status.

The Institute of Financial Planning sponsor is expected to launch the package by Q2 2012.

It urged advisers to decide which type of advice model they would be adopting as soon as possible prior to the RDR changes which will come into effect on 1 January.

It said advisers would need to decide whether expertise and returns on investments may be more valued by their clients than having independent status.

The independent route may also have a higher cost base than the restricted route.

There have been varied estimates over how many financial advisers will move to a restricted status with figures varying from 20 per cent to as many as 80 per cent.

The package will complement the independent status package which is already available from AXA Wealth.

David Thompson, managing director of marketing and distribution at AXA Wealth, said: “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.

“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.”

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