AXA Group's wealth management business is offering advisors the opportunity to explore clients’ financial goals, enhance tax efficiencies and plan cash flows in one place.

The UK's AXA Wealth has launched an online toolkit to help financial advisors give their clients a clearer picture of their finances.

The LifePlanning toolkit includes a 'goal planner', through which advisors can detail clients' life events, aspirations and priorities. They will also be able to make use of the 'retirement income optimiser' to identify tax efficient income strategies for the year ahead and show clients the potential results. Lastly, the service's 'cash flow planner' will look at the impact different investment returns could have on a client’s plans so that advisors can demonstrate the potential effect of an income shortfall or surplus.

“Most people have some idea of what they want from their money and it’s only natural that advisers want to be able to help clients visualise their finances. That might be their goals, income, outgoings or how tax might impact them. Our new LifePlanning toolkit offers them a set of tools to do just that. And it’s all in one place,” said AXA Wealth's managing director of business development and proposition, David Thompson.

The launch follows the introduction of British pension freedoms in April, which has seen a host of UK wealth managers bulk up their retirement offerings. The pension reform has also seen a rise in demand for innovation, with half of advisors looking to offer new investment services, such as cash flow and income modelling, according to an AKG report.