The digital advice service is intended to help advisers serve smaller customers.

Moneyfarm said its solution can also help engage the next generation with Financial Planning and drive efficiency for advice businesses whose advisers will be able to focus on higher value and more complex clients.

The service can be white labelled.

The digital wealth solution provides a simple digital experience, supported by Moneyfarm’s investment team, to deliver low-cost advice and portfolio management.

Moneyfarm, which has European coverage, claims it can help advisers to acquire new customers and nurture existing relationships, with lower costs and risks.

Daniel Giddings, head of business development UK at Moneyfarm, said: “The UK is facing an advice crisis and long-term detriment to those with smaller investable assets, more often than not the next generation of clients for an adviser.

“By enhancing their proposition, with the use of our digital solution, advisers, banks and building societies can still participate in the commercials and continue to serve those with smaller pots, but without losing control.”

The Moneyfarm digital wealth solution provides a dashboard so that the adviser has complete oversight, but the Moneyfarm team is providing the service. At any point the adviser can switch the client back into their full advice service and have access to all the CRM.

Mr Giddings said: “Strategic asset allocation is key to the success of the solution and advisers have access to Moneyfarm’s range of multi asset portfolios by default. Alternatively, we can work with them to map exclusively to their preferred investment solution. Whatever the outcome, you’re able to view everything from performance to charges on fully developed desktop and mobile dashboards.”

Moneyfarm is led by co-founders Giovanni Daprà and Paolo Galvani, and regulated by the FCA. It is backed by Allianz Global Investors, Cabot Square Capital, United Ventures, and Poste Italiane.