Monibox.co.uk targets the 2.5 million savers who are missing out on financial advice because they are considered to be too low value to be served directly by independent financial advisers.

Customers will be able to talk to advisers through online chat and Skype rather than face-to-face meetings.

They will be charged an annual fixed fee according to the value of their total balance of investments and savings.

Neil Richardson, founder of MoniBox, said: “We know that people are not so bothered about face-to-face meetings or advisers coming to the house. They haven’t got time and if they did, they would still manage their affairs online. By integrating secure online chat and Skype, users of our service can still talk to our experts and the portal enables them to keep track of their investments 24/7.”