Former Cofunds chief executive Andy Creak has launched a new consumer-facing platform called rplan.
In March 2010, Money Marketing revealed that Creek was setting up the new venture following his departure from Cofunds.
The platform enables customers to put together an investment plan and offers a rebate of at least 50 per cent of the ongoing commissions paid.
The website also contains free tools and value performance trackers as well as the ability to talk to other investors through the website.
rplan co-founder Andy Creak says: “On rplan I can work out what my target pot needs to be, itself a bit of a shock, I can pick funds knowing what the charges and performance ratings are, I can quickly check them in the months ahead to see if I am on plan and I can speak with likeminded people and swap notes to see if I am missing a trick.”
In the lead up to the launch, rplan conducted research of 2,200 Isa investors which showed that 89 per cent have no idea what they are paying in charges.