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FSA to run money guidance pilot

The Treasury has announced a £12m pathfinder project to test Otto Thoresen’s proposals for a national advice service.

The Money Guidance Pathfinder will be run by the FSA and funded jointly by Government and the regulator.

The two-year project will be used to establish how a national money guidance service could be delivered.

Treasury chief secretary Yvette Cooper says up to three quarters of a million people will get free money guidance on matters like managing debt, planning for retirement or saving for a mortgage deposit.

She says: “It could be working out credit card repayments, budgeting for a new baby, or planning for retirement. People have to make serious financial decisions at every stage of their lives.

“Getting some free, independent and trusted guidance can make all the difference and can help families manage their budget and get a better return on their savings. It could also help prevent people getting ripped off by loan sharks or caught out by the small print on a dodgy financial deal.”


New trust for Standard Life

Standard Life is offering a new discretionary trust available with the firm’s loan plan, discounted gift scheme and gift plan. It will accompany Standard’s absolute trust and flexible trust and is available onshore or through an international bond.

Owner goal

Open-ended retail funds are a great shop windowfor investment firms, far more so than investment trusts or an institutional mandate, providing of course that they perform well.It is therefore no surprise to see Collins Stewart entering this area with the launch of its UK focus fund.This fund, which was launched only a few weeks ago, […]

Graphic Content – August

Given the release of employment data from the US on 5 August, we wanted to focus on employment data in this month’s Graphic Content. The Graphic Content below shows us that young and middle-aged workers were hit the hardest by the Great Recession and have never caught up. Since the job market started to recover […]


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