Association of Mortgage Intermediaries chief executive Robert Sinclair believes the Money Advice Service will be abolished within two years unless it improves its performance.
Speaking at a conference staged by conveyancing services provider myhomemove at the Heritage Motor Centre in Gaydon today, Sinclair said MAS’s new management team needs to “get to grips” with the service.
He said: “The Money Advice Service is here for at least another two years. I do think at that point it will be reviewed and probably shut down unless the new management team get to grips with it in a way that is different to how they have done it now.”
Sinclair added the introduction of financial education in schools will make the MAS less necessary, saying the organisation will “wither on the vine” as that happens.