Following the official launch of Bristol-based online advice firm Wealth Horizon, Chris Williams CFPCM, the new firm's chief executive, has spoken of starting a revolution in the sector.
He explained how his aim is to make investment more accessible and affordable to all.
The former chief executive of Ashcourt Rowan Financial Planning said: "The Retail Distribution Review left a hole in the market and many people have been left without access to advice.
"The advice gap exists because there was never a service that satisfied the needs of every investor. There is now.
"There is no longer an advice gap, just those investors that have not visited our site yet."
The firm said it is the first service in the UK to provide what it called "responsible and regulated investment advice online".
Investors will be able to go through the whole advice process online building a tailored portfolio based on their individual risk profile, without speaking to an adviser.
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Mr Williams said: "We are going to revolutionise the way that people access investment advice. We need to put the customer at the heart of the process, allowing them to access affordable financial advice whenever they want.
"Our proposition has been built around the importance of making advice more accessible and affordable to those who feel alienated because they are unwilling or unable to pay high fees associated with traditional advice."
He pointed to research showing 23 million investors managing their own portfolios, of which 39 per cent (11 million) said the service offered by financial advisers was too expensive. Ten per cent said they did not know how to find good advice.
Clients can initially seek an anonymous portfolio recommendation based upon their individual circumstances for free, with no commitment to complete the entire process.
If they then decide to go ahead with the investment, the fee can be as low as 0.75 per cent annual fee plus underlying investment costs. There is an initial fee of just 0.25 per cent for arranging investments.
Mr Williams said: "There may be other companies that offer aspects of the investment process online, but we are the first to offer a complete journey from initial online advice, through to consultation and fund management.
"We also offer the additional option to speak to an adviser depending on the level of interaction required by each client, essentially providing as little or as much advice as is needed."