Axa Wealth has published an RDR timeline it says advice firms should follow to move to their new business model by the January 2013 deadline.
The timeline says firms should have already decided on the type of advice model and services they will offer after the RDR.
It says firms should start their due-diligence process with providers and platform operators this month and by August should select the providers and platforms they will use. By September, it says they should finalise their service proposition and explain it to clients in October.
The timeline is part of Axa Wealth’s Future of Advice information pack, which is free to all advisers.
Axa managing director of marketing and distribution David Thompson says: “Advisers need to analyse in great detail what it is that customers value in their adviser. If firms do this properly they will be ale to decide and define their proposition for the post-RDR world. Hopefully, this pack can help them do that.”
Pilot Financial Planning director Ian Thomas says: “Most advisers I speak to are well down the line in terms of making sure they are ready and prepared for the RDR. The danger for Axa is that this kind of thing can come across as a bit patronising to advisers.”