Bramdean Asset Management has confirmed that its plans to launch an online funds supermarket called beesandhoney.com remain firmly on track.
The launch of the site is scheduled to take place in the middle of 2012. The announcement comes after earlier reports suggested the FSA's proposed fund manager rebate ban had forced the firm to shelve plans to launch the platform.
Beesandhoney.com will target the retail market and offer investors the ability to buy investment funds via the site with or without an ISA wrapper.
The site will also contain contributions from investment professionals and journalists, which chief executive Nicola Horlick claims will be a major differentiating factor between beesandhoney.com and other sites.
Marketing guru Robin Wright, who was responsible for the Orange mobile phone giant 'The future is bright' campaign as well as 118 118 high profile national roll-out, will serve as non exectutive chairman of the firm.
Horlick said one of the main aims of the site will be to demystify investing and debunk the jargon that is associated with current financial services offerings, helping the retail investor in making informed decisions.
'The FSA has undertaken a major review of the way that investment funds are sold (the Retail Distribution Review), which will benefit consumers as front-end charges will disappear, Horlick said.
'There is a greater need to save as house prices stagnate and pension provision has been reduced for many people. beesandhoney.com will provide investors with the information that they need to make informed choices and will allow them to invest at a low cost. A full range of investment funds will be offered on the site.'