Guide to advice will fill the MAS gap: North

Former IFA Ms North, founder of the Pretty Technical Partnership, said with the retail distribution review around the corner and a gap in advice for low to middle earners starting to grow, it was crucial to create this portal.

Guidetoadvice.co.uk will help customers and financial services professionals find, track and monitor the online advice and guidance space, providing commentary, consumer insight and analysis - but no advice.

Ms North said: “Creations such as the Money Advice Service will not be able to cater to the growing number of people who want advice, but won’t be able to afford a fee, or for those who are time-poor and can’t afford to spend several hours face-to-face with an IFA.

“This site will provide rich content and regular updates on the latest financial advice news and regulations, along with a detailed, searchable directory of online advice offerings.

“It will provide links to advisers that fit the consumer’s criteria, whether they want an IFA offering telephone-based advice on pensions, or a restricted adviser who can provide help by email on topics such as setting up an Isa.”

The team includes: Nick Baker, who has worked for 30 years in financial services marketing and proposition development; Pam Mann, who specialises in technology consultancy; David Burns, with more than 25 years’ experience in financial services consultancy; and Ian Harrison, who has more than 25 years’ experience in the advertising and marketing industry.

Ms North added: “The Association of British Insurers said a while ago roughly 30m Britons might not be fee tolerant and might go online for their advice.

“So while we’re not offering any financial advice, people can read all our information and click through to find an appropriate advice service. We think there is a massive gap in this market and we believe guidetoadvice.co.uk will fill it.”