National financial adviser Lighthouse Group has partnered with web-based advice service Money on Toast to provide Isa and general investment account planning via a low-cost online advice process.
Initially, as stage one of a planned range of ‘keep it simple’ financial planning solutions, Lighthouse has said it will be offering this facility to members of two of its ‘affinity group’ partners, the Royal College of Nursing and the CSMA Club, for a six-month trial period.
The group stated that the new offering will enable potential customers who cannot afford to access financial advice to gain access to financial products via a “straightforward, convenient to use and simple to follow process”.
It added that it hopes this will help to address the well-publicised savings ‘gap’.
Individuals who require broader financial planning assistance or wish to engage with a financial adviser in a traditional face-to-face environment can still access to Lighthouse’s network of financial planners across the UK, the advice firm said.
Carolyn Munton, head of marketing and business development at the Royal College of Nursing, commented: “In an increasingly busy world, finding time to see a financial adviser can sometimes be difficult, so for our members to now be able to receive on-line focused investment advice at any time to suit them is a welcome development from Lighthouse.”
Charlie Nicholls, founder of Money on Toast, said: “It is past due that people are able to reap the benefits of technology and receive both financial advice and a discretionary portfolio management service online.”
Malcolm Streatfield, chief executive of Lighthouse, added: “We look forward to reporting the conclusion of a successful trial in six months’ time and then rolling this service out to our other Affinity partners.”