Guide to Advice, a website which helps those looking for financial information, guidance and advice online, has today launched a searchable financial directory.
The free, reviewed directory is for consumers seeking websites providing information, financial guidance and advice, or looking for websites where financial products can be bought online.
More than 110 financial services websites have been reviewed in the specialist directory, with more to be added on a regular basis.
All websites have been reviewed by the Guide to Advice team and are independent and unbiased.
The site will not provide individual financial advice, but it will hold detailed information about online propositions with critiques on each website stating what is available with a ‘scoring' to help guide visitors to choose the most relevant website for their purpose.
Consumers can search the site based on product need, type of advice service required and whether they can afford to pay financial adviser fees or not.
The Guide to Advice expert panel will review relevant sites and list them free of charge, however, site owners can enhance their presence by paying for a full directory page to expand their online propositions.
Assistance can be provided by the Guide to Advice team to improve online financial offerings to help them remain competitive.
Consumers will be encouraged to review the financial websites they use which will drive the scoring of each website to benefit others and to encourage the provider of the website to improve its offering.
Guide to Advice director Nick Baker said: "As the availability of advice on the high street diminishes, we believe online is undoubtedly where consumers will increasingly seek guidance on financial matters, pay for financial advice specific to their needs and look to purchase financial products.
"Our searchable database will help consumers find suitable websites and save time by avoiding the poor ones. Our scoring of financial websites will become heavily driven by the consumer reviews".
Fellow Guide to Advice director Kim North added: "It is estimated that 30 million people in the UK cannot afford, or are unwilling to pay face-to-face financial adviser fees. This we believe will create an advice gap - which the Guide to Advice consumer website will help fill.
"We want to help consumers raise their understanding of financial products and planning, whilst encouraging providers of guidance, advice or financial products to improve their online offerings. Our scoring and comment on the financial websites will help consumers make a more informed choice".