Wealth Wizards has launched a "robo-paraplanner", which it claimed produces results as secure as - and more consistent than - face-to-face advice.
The white-label offering produces a recommended solution and report after an experienced person undertakes a client fact-find - either over the phone, online or face-to-face.
Once the recommendation is made, the adviser receives a word document, as opposed to a PDF, so they can make tweaks or changes when talking to the client.
According to Wealth Wizards, this all reduces the process to two hours, with just one hour being adviser time.
Chief executive Andrew Firth said: "It's the first of its kind in the world looking at retirement and helping people annuitise, stay flexible or blend the two. It is a pretty sophisticated tool in that sense and a good deal more sophisticated than ISA advice. It is definitely unique."
When making its recommendations, the tool takes into account all of a clients' income streams. It can be integrated with advisers' existing business models as well as their "house views".
Firth continued: "We're reaching a point where we can demonstrate it is not only as secure as face-to-face advice but probably more consistent.
"The audit trail it offers is certainly very difficult for an actual adviser to produce, so what you're getting is something that is as good as face-to-face advice but with more consistency, a lot more robustness and which can be delivered at a lower price."
LV= has already started using Wealth Wizards' white-label solution, and director of advice strategy David Stevens said it can take up to five hours out of the advice process.
He added: "We have confidence in the quality and breadth of the solutions the engine is providing at volume. We will have potentially hundreds of customers a week going through the engine.
"Through the use of advanced algorithmic innovation and expert financial planners, Wealth Wizards has created retirement advice for the masses, which has the potential to create huge shifts in both the cost dynamics of the industry and the volume of people receiving advice."
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