A former commercial director at PTSB is the new kid on the block in personal finance, as Mark Coan launches Moneysherpa.

Coan said the venture will start by providing mortgage advice to customers looking to switch mortgage, with the full range of financial services to follow over the coming months.

He says his goal for Moneysherpa is to create a straightforward online service, where people can learn about financial products as well as purchase them.

“The gap in the market for me is around financial literacy and empowering people to take ownership of their financial futures," said Coan. "I want to combine my experience in media and financial services to create a new type of money adviser in Ireland.

“Moneysherpa’s goal is to help people make smarter financial decisions. The sales we make will be a by-product of the broader service we offer, rather than the only service we offer.

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“We are starting with mortgage switching, as that’s where we can make the most difference to people right now. There are over 200,000 people in Ireland who could save more than €20,000 by switching, but they don’t because they don’t know how to. Our tech and sherpa teams will put them on the right path and help them save money.”

Coan's CV includes chief commercial officer for Independent News and Media and consumer vice president with Virgin Media.

Moneysherpa is backed by, among other investors, DFP Pension & Investment Consultants, headed by Eoin Doohan.

Photo: Mark Coan (centre) with Moneysherpa colleagues Brendan Norden  and Martina Baldwin