According to The Telegraph, Evestor will charge 0.44% on customers' investments and plans to 'significantly undercut' Nutmeg.
Mr Morrow, chief executive of Evestor, said:
“Our proposition will offer a cost effective solution to savers of all ages who do not mind not receiving face to face advice.
Mr Cameron added:
“While I have come across many attractive business opportunities over the last decade, nothing has grabbed my interest and attention quite like eVestor. The proposition we are putting in place has the potential to revolutionise investment advice for the benefit of consumers in the UK.”
