Online consumer-facing personal finance solutions are evolving and the amount of information and services available free to clients continues to advance. While these sites can appear attractive, I believe firms need to have a clear understanding of what they offer so advisers can really articulate why their service offers more, even if it has to be paid for.
Blue Speck Media, the company behind MoneyHub, also offers a consumer service – although it does far more than most other organisations to enable advisers to work with it.
Yourwealth.co.uk provides consumers with a wide range of tools and calculators, educational content and access to advice covering savings and investment, protection and mortgages. Blue Speck says the offering is designed to help consumers choose the direction they want to follow and access the right information, products or advice.
There is an integration to MoneyHub, which is how advisers can use it to engage with clients. I would urge readers to spend some time getting to understand this service.
Ian McKenna is director of Finance & Technology Research Centre