AXA Wealth, the UK-based wealth management arm of the European insurance group, has come out with a new tool enabling advisor firms to provide investment for clients not requiring full financial advice.

AXA Self Investor is described as a non-advised investment to complement the firm's advised model, both now and after the Retail Distribution Review has come into force at the start of next year. It is aimed at clients wanting simple investment solutions.

The new service offers a range of 170 funds selected by AXA Wealth’s specialist investment team, Architas.

"The way clients engage with financial services is changing, as are the ways in which advisers do business," said Mike Kellard, chief executive of AXA Wealth.

AXA Self Investor is built on the firm's platform business, Elevate, which earlier this month reported that its assets were nearly 50 per cent higher at the end of June compared with a year earlier. Elevate's assets stood at £4.3 billion ($6.7 billion) after the first half of 2012, up from £2.9 billion at the same time last year.