National advisory firm Lighthouse Group has announced a "low-cost" online advice service.
It has struck a partnership with Money on Toast to create the internet based offering, which will be trialled over six months.
A number of online advice firms have been launching in the last six months, including Wealth Horizon, founded by IFP board member Chris Williams CFPCM.
Keith Churchouse CFPCM is about to officially launch his own online business – SaidSo.
In a statement to the Stock Exchange, Lighthouse said it would be working with Money on Toast, which it described as "a pioneer in the development of online financial advice" to provide "straightforward ISA and General Investment Account planning via a low-cost on-line advice process".
It will be trialled initially with two affinity group partners, the Royal College of Nursing and the CSMA Club.
{desktop}{/desktop}{mobile}{/mobile}
The company said: "This new offering will enable potential customers within that portion of the UK population who do not currently find it economically viable to engage with a financial adviser, to gain access to sensibly priced financial products via a straightforward, convenient to use and simple to follow process, helping to address the well-publicised 'savings gap' that currently exists.
"Individuals who require broader Financial Planning assistance or indeed wish to engage with a financial adviser in a traditional face-to-face environment will continue to benefit from access to Lighthouse's extensive population of financial planners across the UK."
It said the move was "stage one of a planned range of "Keep it Simple" Financial Planning solutions".
Charlie Nicholls, founder of Money on Toast, said: "We are excited to be working with Lighthouse and are pleased that online advice services will be brought to the attention of a large number of working people who need it. It is past due that people are able to reap the benefits of technology and receive both financial advice and a discretionary portfolio management service online."
Malcolm Streatfield, chief executive of Lighthouse, said: "We look forward to reporting the conclusion of a successful trial in six months' time and then rolling this service out to our other affinity partners."   

Get FREE daily news summaries direct to your inbox. Sign up on the homepage now.

Follow us on Twitter  and get frequent news alerts @FPM_online.

Or follow Editor Kevin O'Donnell - @FPM_Kevin or staff writer James Nadal - @FPM_James.

For the latest Sipp, SSAS and retirement news visit our sister news site www.sippsprofessional.co.uk and on Twitter @SippsPro.