UK-based money podcast and 7IM have launched a “groundbreaking”, low-cost investment service to make it easy for viewers and listeners to invest in funds that match their appetite for risk.

It is believed to be the first arrangement of its kind between an investment manager and an independent podcaster.

Listeners to the Meaningful Money podcast, who are looking to invest in an ISA or investment account, will be directed to a page on the Meaningful Money website where they will be guided through a process to find investments.

The 7IM Self Invest service is built using the 7IM AAP multi-asset range, which includes cautious, moderately cautious, balanced, moderately adventurous and adventurous funds.

Users of the service can pick any one of the five funds or create their own blend.

Online tools built into the site will show them how their investment is likely to grow over time, as well as the full range of best and worst case scenarios.

Videos explain how each portfolio works.

Meaningful Money’s Pete Matthew, a Certified and Chartered Financial Planner with his own wealth management practice, first started shooting financial self-help videos on the cliffs and beaches around his home in West Cornwall in 2009.

After broadcasting nearly 300 videos he began podcasting in 2012 and his regular show now attracts almost 100,000 downloads a month.

It is the most popular personal finance podcast in the UK.

He said: “Right from the early days viewers and listeners have been getting in touch asking for help.

“They’ve been motivated by the show to save more but not everyone is able to pay professional advice fees, and I haven’t the bandwidth to help everyone.

“I’ve always wanted to be able to point them to a simple, clean self-invest service that uses the kinds of passive multi-asset investments that I’m always banging on about on the show.

“What I like about the 7IM approach is that the funds set clear and realistic guideline returns and 7IM has a good track record over the long term of landing clients close to those targets.

“Past returns are no guarantee of future returns but the process is robust and logical.

“The service we are offering together should give investors confidence that their money is being well managed and help a lot of people.”

Tom Sheridan, CEO, 7IM, said: “To pull together a podcast regularly for seven years is a big ask and a tribute to Pete’s passion for educating investors.

“To attract over two million downloads in that time, as he has, is a tribute to his talent.

“I’ve been a fan of Pete for many years and it’s a privilege to be part of this innovative way of reaching out and helping people to save and invest wisely.”

Mr Matthew will operate as an Introducer Appointed Representative for 7IM.

Savers can invest lump sums or regular amounts from £200 a month.

The service will charge 0.30% on the first £150,000 and nothing on anything beyond that.

Each fund has an underlying charge, on average less than 0.7%.

Therefore, for most investors, the service is likely to cost less than 1% p.a. in total.