Money on Toast is excited to be demoing our online advice proposition at the most established event in financial technology, Finovate Europe, on February 12th 2014.
As the leading pioneer in online advice services, we will be demoing our online investment advice planner to the 800 or so attendees across the financial and technology industries. With the Retail Distribution Review and other changes in the financial services sector, we hope to be able to form partnerships with even more organisations so that we can deliver an advised financial solution to even more consumers. With a widening ‘advice gap’, we feel a service like ours is essential in order to ensure low to middle income consumers are able to access financial advice.
The investment planner allows consumers to get fully FCA-regulated investment advice directly online. Clients are guided through an online appointment with our virtual adviser, “Doughbot.” Doughbot assesses clients across a number of factors, including their appetite for risk and capacity for loss. They are then matched with a suitable portfolio. We also take into consideration factors a human adviser would during an in-person appointment, such as taxation and emergency fund provisions.
Clients then receive an auto-generated suitability report which outlines what they have been recommended and why. From this, clients can then click directly through to purchase these recommended products online and at a very low cost.
We have focused a huge amount of time and attention on user experience, to ensure that it is easy and cost-effective for our customers to get advice. We have also built the model to be scalable, meaning we can deliver our award-winning advice to many people at the same time, reducing our overheads and allowing us to pass cost savings on to the client.
Money on Toast Founder Charlie Nicholls and Project Manager Catharine Dodd will be demoing at the event and manning the Money on Toast booth. Please do come by during the day for a chat and to discuss whether an automated advice solution would be a good addition to your proposition. See you then!
Have a sneak peek at our teaser on the Finovate website here