You are here: Home - Retirement -

Online-only IFA launches pension wizard

0
Written by:
03/12/2012
Wake up your Wealth, the UK’s first online-only independent financial advice service has launched a ‘Pensions Wizard’ which aims to offer low-cost, commission-free advice to all.
Online-only IFA launches pension wizard

The new service is built on the ‘Algorithm Based Advice’ concept which is already established in the USA, delivering low cost automated online financial planning services.

The FSA’s Retail Distribution Review of the UK’s existing advice industry is widely expected to reduce the availability of advice for the mass market, as advisers withdraw from the market or focus on wealthier clients. Wake up your Wealth’s Pension Wizard looks to fill the advice gap, providing users with access to affordable advice.

The Wizard works by gaining a thorough understanding of the client’s personal profile, employing tools built using Wake up your Wealth’s Chartered Financial Planning expertise and the best psychometric principles. It then provides advice on investment strategy now and going forward to retirement using lower-cost passively managed investment funds.

Andrew Firth, founder and executive director of Wake up your Wealth said:

“We are bringing together the very best principles and practices of high quality independent financial advice, with the very latest in online technology, to deliver a revolutionary service fit for today’s world and how people prefer to get things done – via the convenience and control of engaging online.

“The timing is also ideal, as the FSA’s ban on commission will soon take effect and will cut the numbers of advisers serving the wider population of less wealthy people. Wake up your Wealth is very much designed as the perfect solution for this large audience that still needs and wants expert independent advice but would otherwise find it prohibitively expensive.

“Our service is radically cheaper than conventional face to face IFA services but with absolutely no sacrifice in the quality of advice delivered – both initially and then year after year at each annual review.”

At launch of the Pension Wizard, the products of 12 UK pension providers are included, as each offers the low cost, passively managed funds that Wake up your Wealth advises all of its customer to use.

Should a customer have one or more pensions with providers outside of this range, then they can use Wake up your Wealth’s ‘Pension Tidy-Up’ service. This service provides advice on whether it is worthwhile to move these existing holdings to a lower cost pension solution and gives customers the same advice provided by the Pension Wizard in terms of the optimum investment strategy for their personal profile.

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The five financial risks threatening retirees in 2019

Wealth management group Sanlam has identified five key risks for those at or nearing retirement in 2019
The five financial risks threatening retirees in 2019

Where are the best investment opportunities for 2019?

With 2019 fast approaching, we asked some of the UK’s leading fund managers to highlight the stocks they are w...
Where are the best investment opportunities for 2019?

Half a million may need to retake driving test under no deal Brexit

Up to half a million expats living in France and Spain may be forced to retake their driving test in those cou...
Half a million may need to retake driving test under no deal Brexit

Ryanair jetting towards US flights for £10

Ryanair is on course to achieve its long-held ambition of offering transatlantic flights to the US – and the...

Investing in car parks: a good vehicle for income seekers?

As the search for income continues, many investors are turning to alternatives, with car parks becoming increa...

A quick guide to guarantor loans – in association with Guarantor Loan Comparison

Considering a guarantor loan or becoming a guarantor yourself? Read our essential guide...

Results round-up: Companies to watch this week

Mulberry and more will face the music this week.

Product launches of the week

Select Property Group, Schroders, Leeds Building Society and more have exciting news this week.

Money Tips of the Week

Read previous post:
Renewable energy ‘gift vouchers’ launched

Gift givers can present green-leaning loved ones with ‘debentures’ in a wind farm through Abundance Generation.

Close