How they describe themselves: Money on Toast is part of CPN Investment Management, a discretionary fund manager and advisory service that has been operating throughout the UK since 1986. Money on Toast was founded by Charlie Nicholls, a young entrepreneur who spotted an opportunity to provide advice to the millions of clients who had been abandoned by other financial institutions as a result of RDR.
Money on Toast aims to revolutionise the financial services industry, providing an innovative way for consumers to receive FCA regulated financial advice online on a wide range of financial services products such as ISAs, pensions and protection policies.
How they describe their product/innovation: Money on Toast delivers independent and whole of the market FCA-regulated financial advice online via an algorithm-powered adviser, Doughbot. Clients can obtain advice on investments, pre and at-retirement planning, protection and inheritance tax.
How it works: The online system guides the customer through a series of questions, assessing a number of different factors just as a human adviser would. Doughbot then produces a comprehensive electronic suitability report detailing what has been recommended, which is emailed to the client. Clients can then click through and buy these products directly online. All interactions are electronically tracked, providing a complete compliance trail.
Product Distribution Strategy: Direct to Consumer (B2C), through financial institutions
Bus. Dev.: Kay Ovenden, Business Development Director, email@example.com,
Press: Catharine Dodd, Project Manager, firstname.lastname@example.org, 01243 819101
Sales: Charlie Nicholls, Founder & Managing Partner, email@example.com, 01243 819101