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By Michael Trudeau | Published Jun 28, 2012

Online advice firm launches auto-enrolment planning tool

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Money on Toast, an online financial product portal that claims to offer free ‘advice’, has launched an auto-enrolment planning tool to help companies assess the impact of the reforms and cost to their business.

The free-to-use planner will allow companies to gauge what they need to do to be compliant with the new legislation and understand elements of auto-enrolment such as impending charges, the firm said in a statement.

The site also offers an online solution that allows companies to become fully compliant, including an online account for each employee to guide them through the process while automatically generating and filing all necessary legal documentation.

Charlie Nicholls, managing partner at Money on Toast, said: “It is very important for HR departments and other key personnel to be prepared for the reforms to avoid hefty fines, save costs to their company and avoid an administrative and logistical nightmare.”

Money on Toast is an online portal that offers dmortgages, pensions and investment products direct to consumers. The site offers a free ‘advice’ tool that gives guidance on different product types and ‘recommends’ financial solutions.

It also allows consumers to book an appointment with “fully qualified and FSA regulated advisers” via video conference, skype or the telephone for £35 for a 20-minute consultation.

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