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Websites claim to end face-to-face advice

A Surrey IFA has set up two internet sites which claim to provide full online advice without the need for face-to-face meetings.

Churchouse Financial Planning says most websites claiming to offer online advice only give information and clients are then required to make an appointment with an adviser.

The and websites say they differ in that they take clients through a full fact-find, implement the resulting recommendations and provide regular online reviews.

Churchouse says it has given the FSA all the details and the services meet all its compliance requirements.

Once a client logs on, the firm’s terms of business appear and it is made clear that it operates on a fee basis.

The client types in their objectives, individual circumstances and existing financial arrangements. The adviser then generates a full report which costs £699 for the advicemadesimple service and £499 for the pensionsmadesimple service. The client must then decide whether to implement the recommendations at an additional cost of £399.

A £499 fee will be made for each further review under advicemadesimple while reviews under pensionsmadesimple cost £399.

Director Keith Churchouse says: “We think this is a revolution in the industry but nobody can see it yet. One of the things that people have not been able to do online is get financial advice without arranging a meeting.

“There will always be a place for the high-street IFA but we believe that in 10 years time a good percentage of financial advice will be available online. We know this is going to be the way forward but the question is whether it will be our system or someone else’s.”


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