Keith Churchouse, director of Chapters Financial, plans to launch a simplified advice platform in the New Year after earlier putting the project on hold.
Churchouse said the company is currently refining Advice Made Simple (AMS) - an online financial planning service first launched seven years ago - to cater for a post-Retail Distribution Review (RDR) client market.
It will offer mainly middle-market consumers who may be priced out of full advice a cheaper service.
Earlier this year, Churchouse shelved plans to develop AMS for the post-2012 market, arguing the Financial Services Authority (FSA), by making the requirements for simplified advice as stringent as those for independent and restricted advice, had made the project too costly.
In July, the FSA said it was confident simplified advice was a solution to the mass-market advice conundrum, and that it was already seeing some "well-developed plans" from some firms, mainly providers.
Churchouse said: "The site [AMS] was relatively amateur when it was first built seven years ago.
"We've looked at it going forward and we believe it's still a good model, but it will need some tweaking to reflect the RDR and the changes in requirements."
He added: "If AMS is extremely successful, and we believe it will be at some point, it's our sole objective to sell the model to other advisory firms or to another organisation that has a greater distribution model."
AMS was originally developed alongside Plan My Pension (PMP), another online financial planning service, and Churchouse said there was potential for the "good parts" of PMP to be incorporated within AMS.
If the merger is not feasible, PMP will stay on hold until the group decides how to fit it into the market as a standalone entity.
