Govt's free advice service launches today
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The free advice service created by the Government, the Money Advice Service, has launched today.
People can get advice online, over the phone and face-to-face, throughout the country from one of the service’s 100 advisers.
Later this year, the Money Advice Service will launch an online health check, which will provide a personal action plan to help people identify their money priorities and make a plan for their financial future.
Its budget for 2011/12 is £43.7m and is funded by a statutory levy on the financial services industry. The service is an independent organisation, with an independent board and chairman appointed by the FSA. It was formerly the Consumer Financial Education Body.
The Government first announced its intention to launch the service last May.
MAS chairman Gerard Lemos says: “The Money Advice Service is here to make people’s lives easier and better. I firmly believe we can all enjoy life more given the right money advice at the right time in the right way. We’re not here to sell people anything and we won’t charge anyone - we are here to help people take decisions about their money and plan for a better future for themselves and their families.”
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Readers' comments (3)
Anonymous | 4 Apr 2011 9:49 am
"Its budget for 2011/12 is £43.7m and is funded by a statutory levy on the financial services industry"
"We’re not here to sell people anything and we won’t charge anyone -"
two completely contradictory statements.
A bit like the fscs advert.
The government wants the public to think this is a free service, when it is not. Simeone is paying.
How long before the running costs of this organisation become unsustainable due to fat cat salaries and outrageous running costs?
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Anonymous | 4 Apr 2011 11:25 am
£43.7m for 100 advisers. That looks like £437,000 per adviser. Nice work if you can get it.
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Rod Leonard | 4 Apr 2011 12:06 pm
So we pay for the free advise then. Why most the FSA tell so many untruths... it may be free to the public but we will have to charge our clients to be able to provide the money for the free advise, Is at April the 1st again Sants you and your organisation are a disgrace. The people who make this stuff up do not live in the real world.
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