UK-based advisory firm Chapters Financial has introduced a new mass market simplified advice service that aims to target 15,000 clients by the end of next year.
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Dubbed as Said So, the new offering will be launched by the end of January 2015 and will provide consumers a financial planning report including a summary of their situation, assets and recommendations for a fee of £299.
The SaidSo website will take potential customers through an interactive questionnaire to assess their understanding and tolerance of risk, as well as aspects of financial planning.
Clients will receive the report within 10 working days and they will also have the option to pay £159 if they want the firm to implement the recommendations and an additional fee of £129 for reviewing their plans.
Chapters Financial director Keith Churchouse said: "If by the end of 2015 we have achieved that I think that then it will need a greater distribution model through a larger provider and hopefully we will get some approaches on that basis.
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By GlobalData"I’m looking at this from an age perspective, 30-40 year olds communicate almost solely online, so this system is aimed at that growing mass affluent market that is no longer serviced by banks or financial advisors.
"Their needs are not too complicated yet, but Said So will help bridge the gap left by RDR, giving proper financial advice without the need for a phonecall or a face-to-face meeting," Churchouse added.
