Wealth manager and Financial Planner Foster Denovo has launched a £6 a month regulated financial guidance service.

The firm says the new digital offering will bridge the gap between full Financial Planning and targeted guidance.

The app-based MAP digital offering (MyAdvicePlace) will cost £6 a month with a £180 set up fee.

Users will get an online hub to keep track of savings and investments and then be able to talk to a financial adviser when needed with advice fees charged beyond an initial free consultation.

The service is available to individuals and employers.

Foster Denovo says MAP will offer:

•  personalised, regulated, financial advice on key areas such as saving, investing, health insurance, income protection, buying a house and retiring
• a personalised financial ‘MAP’ or pathway, based on clients’ circumstances and goals
• fully regulated advice when needed
• a personal contact, with clients able to talk to a Foster Denovo financial adviser

The firm says that with conventional advice costing hundreds of pounds and data from the FCA suggesting just under one in 10 people pay for advice in the UK, MAP is a “pathway” to make advice more affordable and available to more people.

Foster Denovo says that when regulated advice is required by MAP users, the client’s first consultation with an adviser is at Foster Denovo’s cost. If advice is then required an initial fee is then based on the assets they hold and the complexity of the advice they require. Financial Planning fees for ongoing advice are "individually tailored to the clients", Foster Denovo says. 

Foster Denovo said that research among 1,500 people (aged 20 to 50, earning from under £15,000 to nearly £100,000 in different occupations and regions across the UK) was used to help “shine a light” on attitudes to digital and hybrid tools.

Some 53% said they would be interested in a digital alternative, with 64% believing personalised digital financial advice would eventually become the norm.

Foster Denovo chief operating officer Helen Lovett said: “The advice gap – or chasm, frankly - is robbing too many people of the peace of mind we know professional financial advice provides. After advice, there’s guidance – information from which you make your own choice – but that simply does not span what is a real divide in affordable access to financial advice.

“Therefore, we’ve combined our experience and expertise as one of the leading financial advisory businesses in the UK, with the latest technology, so we can actually do something about it. MAP gives firm directions, on a simple-to-use and secure website, reviewed by a qualified financial adviser, at a fraction of the cost of the traditional approach.”

Foster Denovo is a national adviser and acquired Verum Wealth in Glasgow at the start of 2025, after acquiring Brian Mole and 80Twenty in the Midlands last autumn and Rosemount – also in Glasgow – last summer. In 2024, it doubled the size of its employee benefits division with Punter Southall’s corporate advisory arm and acquired wealth managers Wade Financial in Newcastle and Creative Financial Solutions in Hampshire.

Foster Denovo Limited has 14 offices across the UK.

• 13.05.25 Story updated to make clear that fees for ongoing Financial Planning advice are individually tailored to clients.