Unbiased has closed its BlueBook media directory of advisers keen to talk to journalists, claiming a lack of demand.
The directory allows journalists to find a financial adviser to provide expert commentary and case studies for their stories.
It has been pitched as a way for advisers to raise their profile, but Unbiased has said there has been a decline in demand.
Karen Barrett, founder and chief executive of Unbiased, said: “Over the last five years we have seen a rapid decline in journalists using the BlueBook and in new advisers signing up to the media directory.
“We believe the BlueBook has done a great job and has helped to create many active and successful media commentators, introducing them to journalists looking to write on relevant topics.
“Like in any other sector, these relationships will now exist without us and it is time for us to dedicate our resource elsewhere.”
The BlueBook also allows financial advisers to enter Unbiased’s Media Awards but the company has stated these will not be affected, and will go ahead as planned.
It was originally available as a print publication but since 2009 has been fully available online.
Earlier this year Unbiased’s Response Rating system was criticised after research suggested there were anomalies between the speed with which an adviser responds to enquiries and their rating.
Sebastian van Mook, a financial adviser with Abacus Associates, said: "I am subscribed to it but I got inundated with requests from it so I ended up ignoring it. If they had some filters maybe advisers would have got less requests and they would have had a higher response and maybe it would have kept going.
"I don't know if it raised my profile. If I respond it is not because I am trying to raise my profile, I am just trying to be helpful."