MoneyVista, part of the Royal London Group, has launched a new Financial Planning tool for consumers.

The subscription-based service will be available online and will let consumers see their current financial position and projected financial future.

It aims to help the estimated 11m UK consumers who do not have a relationship with a financial adviser.

The tool is described as a ‘simple, safe and secure way to create, maintain and use a financial plan’.

Users will be able to see the impact of their decisions over the long-term such as how they should plan for retirement and, as a result, make better informed decisions.

Martin Peterlechner, head of marketing at MoneyVista, said: “For many of us, seeing our financial future can be a tough reality to face. However, by bringing your financial plan to life and helping to understand your options, MoneyVista can help consumers to develop and monitor a realistic plan to achieve their financial goals.”

Vaughan Jenkins, chief executive of Bluerock Consulting which developed the service, said: “Self-directed consumers are growing in number and becoming more demanding when it comes to the tools they need. The growth of self-directed financial management looks set to become an even more important trend for advisers and product manufacturers to respond to.”

The service does not provide regulated financial advice and consumers are not able to buy products through the tool.

A free 30-day trial of the programme is available from http://www.moneyvista.com