Technology provider EValue has joined forces with fintech firm Moola to create an investment platform for advisers and consumers.
The platform aims to cut the complexity of investments by pairing EValue’s forecasting software with Moola’s platform technology.
The Moola platform will be able to adapt to customers’ needs and help them understand how they can achieve their financial goals.
Alongside the consumer tool, Moola is also launching a similar adviser offering in partnership with EValue, which provides forecasting tools so advisers can offer affordable advice to those who may not have originally been able to afford it.
Andrew Storey, sales director of EValue, said: “This is a crucial step forward in the mass delivery of accurate, trustworthy and financially accessible consumer advice.”
He said the face of the investment industry is changing fast, with the Retail Distribution Review and the Financial Advice Market Review highlighting the increasing demand for clarity and transparency.
This comes as EValue’s Bruce Moss warned the majority of robo-advice start-ups will disappear in just a few years.
Gemma Godfrey, chief executive of Moola, pointed out that there are 5.5m people in the UK with disposable income and no access to financial advice.
“This is a sizeable opportunity, in a yet uncrowded space.”
She said the service applies “rigorous” academics to real life scenarios, offers ongoing support and provides accurate projections, which she claimed “sets it apart”.