Two tech firms are joining forces to launch a new investment platform for advisers aimed at targeting 5 million people lacking access to financial advice.

EValue is teaming up with Moola in a partnership designed to “cut the complexity of investments by pairing EValue’s advanced stochastic forecasting software with Moola’s accessible platform”.

Advisers were promised “comprehensive and robust long term forecasting tools” produced by EValue’s economic scenario generator.

Moola claimed its platform will allow advisers to offer a “cost-effective simplified service to those consumers in need of assistance but who traditionally it would have been too costly to service, until full financial advice is needed” while taking responsibility for administrative and regulatory requirements.

Alongside this, Moola is also launching a D2C offering with EValue.

Gemma Godfrey, founder and CEO of Moola, said: “There are 5.5 million people in the UK with disposable income and no access to financial advice. This is a sizeable opportunity, in a yet uncrowded space.

“Working together, Moola and EValue can enable people to understand how they can achieve their financial goals, offering the comfort to get started and knowledge to make smarter decisions.

“For financial advisers, the 20 years of operational excellence that EValue brings, adds to the credibility of the Moo.la service which enables advisers to save time and resources by offering a simplified service to customers too costly to service traditionally.

“The ease of integration with EValue’s financial projection software makes the Moola service a ready-to-go offering for advisers. The rigorous academics applied to real life scenarios, the accuracy of their projections and ongoing support have further set the service apart.”

Andrew Storey, sales director of EValue, claimed the tie up was “a crucial step forward in the mass delivery of accurate, trustworthy and financially accessible consumer advice”.

He said: “The face of the investment industry is changing fast with the RDR and FAMR highlighting the increasing demand for clarity and transparency.”