Sesame Bankhall will launch a restricted advice service for at-retirement customers with small pension pots.
The group is developing a fee-based proposition that will run alongside its retirement referral arm Gateway.
It will cater for consumers with retirement funds of £30,000 or less, for whom the cost of using an IFA "may outweigh the benefits of the advice".
Consumers will pay a small fee in return for straightforward financial guidance based on their answers to a simple, online questionnaire.
Although its development is at an early stage, Sesame Bankhall hopes to have the service up and running by 2013.
Group chief operating officer Stephen Young says: "For clients with pension funds of £30,000 or less, the amount they would gain from independent advice would unlikely be justified by how much it costs.
"There is room for restricted advice in relatively small, niche areas."
Young, however, adds there is no longer a reason for IFAs to drop the independent banner and offer restricted advice after 2012.
He says the FSA's "watering down" of the requirements for independence in March's RDR Policy Statement mean advisers no longer have to review the whole market for each product for each client.
In the paper, the regulator said if firms conclude certain products, such as unregulated collective investment schemes, are unsuitable for its clients, it will not need to review that market for each customer.
Initially, the FSA estimated it would cost firms an extra £16m a year to pay for the additional product searches and assessments to review the ‘whole of market' for each product.
"A lot of advisers would have chosen to go restricted, but not now," Young says. "The costs could have pushed a number of advisers away from the independence label, but the FSA did the sensible thing."
Smashed initial target
Since November 2008
Share issue oversubscribed
PARTNER INSIGHT: For many advisers, outsourcing to a multi-manager or discretionary fund manager makes sense, allowing them to focus on the adviser-client relationship
Events, information and other services