As revealed in this week’s Money Marketing, CandidMoney.com covers a number of areas in the market from saving for children to retirement. Other areas covered include general savings, borrowing, investment, protection and tax.
Each topic provides tutorials for consumers on segments of the market and the pitfalls to be aware of. For example, the investment tab covers the risk spectrum of products, returns, measuring performance, combining investments, the use of trackers and currency risk.
Other features include over 80 financial calculators, which cover subjects such as managing debt, tax calculations and school fees. There are tests for beginners and advanced users to see how strong their knowledge is. Users can also submit reviews on products and services as well as ask Modray specific questions on topics.
Modray has been a financial adviser since the mid-1990s with Chase de Vere and, more recently, Bestinvest. He left Bestinvest in September 2007 and has been working on the launch for the past 18 months.
He says: “My key aim is to encourage everyone to take more of an interest in better managing their money and avoid the many potential pitfalls. By offering lots of useful tools and features, as well as sharing my insider knowledge, I am confident I will achieve that. I think this can also help plug the advice gap. Consumers can get guidance and help on issues that are typically unprofitable for financial advisers to deal with.”
Informed Choice recently launched its own personal finance information, guidance and implementation website called brilliantwithmoney.co.uk.
Managing director Martin Bamford says: “We welcome more projects like these in an overlooked market that I feel will become more prevalent in the next few years.”