The service, www.planmypension.co.uk, will offer online financial advice on the issues of accumulating pension benefits, buying annuities and investing in ISAs, either on a lump sum or savings basis.
After completion of a simple fact find, the client can expect to receive advice on the issue they need resolving having paid a fee of 1 per cent of the proposed amount invested, subject to a minimum charge of £30. Churchouse will also receive trail commission of up to 0.5 per cent per annum.
Director Keith Churchouse says: “As a company, we have always been convinced that online financial advice is the way forward for both our own business and for a significant and growing segment of UK retail personal finance.
“Having worked on these systems and concepts for four years now, we are beginning to really apply our development work in the way that will see a proliferation of these types of website.
“The development has not been without significant cost, both in terms of time and funding, but the resources employed are now bearing fruit. We are delighted with the overall outcome and we hope the UK public will be.”
Churchouse urges the industry to embrace this distribution change. It adds that it will lead to a natural expansion of the independent market and grow the opportunities of IFAs in the UK.