Log on or miss out on the middle market, says Churchouse

Advisers who refuse to acknowledge the impact that the internet has on their business will miss out on a middle market of clients, says Keith Churchouse of Churchouse Financial Planning.

Guildford-based Churchouse has spent two years developing websites that allow clients to plan their finances online for a set fee. After filling out fact finds, risk profiles and accepting the terms of business, clients will receive a financial plan within 12 days.

Churchouse believes that moving online is necessary to survive in a computer-literate world.

He said: ‘There is another way to give advice other than face to face. If the retail distribution review goes through there will be a middle market of clients that will turn to the internet for advice.’

In his recently completed degree in financial services, Churchouse focused his dissertation on online financial services and used his websites as case studies. He found that half of the advisers he surveyed dismissed the idea of online financial advice.

Churchouse said: ‘Consumers do lots of things online, from banking to shopping and booking a holiday. There is no reason why they would not get financial advice online.’