AXA Wealth, the UK-based wealth management arm of the European insurance group, has launched a new online support hub to help advisors cope with the changes coming in under the Financial Services Authority’s Retail Distribution Review programme of reforms.

FocalPoint offers information, guides and video content under four banners – “Start”, “Build”, “Implement” and “Grow” – to cater to advisors at all stages of RDR transition, the firm said.

The 1 January 2013 implementation date for the RDR is approaching fast, but a number of recent surveys have uncovered a disturbing lack of readiness among some segments of the UK’s advisory community.

A number of firms have come out with offerings aimed at helping such advisors to transition their businesses to RDR-ready models; the package of reforms is driving out the use of commission in favour of fees, for example.

Another interesting example of such help being extended is that of advisory firm Charles Derby. Earlier this month the firm launched what it calls “a lifeline” to advisors who have yet to meet upcoming mandatory qualification requirements in the shape of a new supervision offering.

Under the RDR, UK advisors will have to be qualified at QCF Level 4 from 1 January (the previous minimum was Level 3). However, there is a loophole whereby advisors who achieved Competent Adviser Status or began practicing between 30 June 2009 and 31 December 2010 can get a six-month extension and continue practising in the interim – provided they are directly supervised by a qualified party.

Charles Derby says that it is the first advisory firm to put a system in place to help those advisors that qualify for this extension and it has capacity to help up to 50 advisors in this way.