Financial Planning app provider Multiply has launched a new facility allowing customers to act on investment recommendations they receive within the app.

Multiply delivers regulated financial advice through its AI-powered 'chat bot'.

The new facility will mean when the app's recommendations include investing through an ISA or GIA, Multiply users will be able to execute these directly.

This will be done via a custom-built range of 27 funds, accessible through five risk-rated model portfolios.

The new investment proposition is underpinned by Octopus Group-owned fintech and custodian Seccl. Seccl will act as custodian and ISA manager, while its investment API will route orders for execution in the market.

Multiply will charge users a platform fee of of 0.3% of the value of their assets per annum, as well as an initial £1 fee for their up-front recommendations, and a £1 monthly fee for their ongoing advice.

Multiply became the first consumer-facing financial advice app to be approved by the Financial Conduct Authority in July 2019. Since then it has advised on over £1bn of assets and debt, and has made 11,000 individual recommendations. Over 30,000 consumers have downloaded the app.

Vivek Madlani, CEO of Multiply, said: “We want to empower everyone to achieve their goals, regardless of their current wealth or financial situation. And allowing more people to act on low-cost investment advice is central to that mission.

“This isn’t about replacing human financial advisers; it’s about helping new and hard-to-reach areas of the market, with a seamless and affordable end-to-end advice journey.”