Chris Williams, board director at the Institute of Financial Planning (IFP) and former chief executive of Ashcourt Rowan Financial Planning, is set to launch an online advice business.
The business, called WealthHorizon, aims to allow clients to invest simply as well as giving them the option to speak to an adviser if needed.
Williams (pictured) said the proposition had been built around making advice more accessible and affordable follwing the retail distribution review (RDR).
He said: ‘The RDR has left a gap in the advice market and many people have been left without access to advice. We are providing a solution for those who are without a suitable way of investing, especially those who want their investments to work hard for them, but do not necessarily have needs which are complicated enough to warrant a traditional financial adviser.’
'We can see part of the population in the UK is being left in the financial shadows and are not being served appropriately by the industry. This has to change. We feel there is a real gap in the market for consumer services which have the advantages of both online and human interaction.’
Steve Gazzard, chief executive of the IFP, said there had so far been a lot of talk but not enough action from the industry about how to bridge the so-called advice gap.
‘What WealthHorizon is proposing will address the issue head on and, if the company does deliver on what it is saying, then it could change the face of the consumer advice market for the better.’
WealthHorizon is due to launch in the summer.