As such, the new service is aimed at lower value clients who may not be willing to pay a fee for advice, but still want to remain with the advisor firm in case they need advice later on. Therefore providing firms with the opportunity to keep clients who might be tempted to “do it yourself” now that advisor fees have risen. The platform could also attract new clients, potentially creating a pipeline of clients who may need financial advice in the future.

The offering will be available through advisors’ websites and will give customers access to a wide range of investments within the product wrappers including OEICs, Unit Trusts, Investment Trusts, Equities and ETFs, the firm said.

Ascentric also noted that the terms of Investor Direct clarify to customers that the offering is a non-advice service.

In related news, the platform recently hit record new business levels of £813 million in the first half of 2013, when the financial powerhouse Royal London Group reported  its interim results, including those of subsidiary Ascentric, in August.