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MAS reveals adviser directory referral stats

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A quarter of those using the Money Advice Service’s retirement adviser directory have taken steps to contact an adviser, Money Marketing can reveal.

MAS figures show that 32,000 individuals have visited the directory since its launch on 2 April to coincide with the introduction of pension freedoms.

Of those, 8,000 have clicked on an adviser’s website link, email address or phone number.

Those using the Government’s Pension Wise guidance service are pointed to the directory if they wish to seek advice.

Figures from the Government show that 60,000 people accessed the pension freedoms between April and June.

The Treasury also says Pension Wise provided 18,000 face-to-face and telephone guidance appointments between April and July, while 925,000 unique users accessed the Pension Wise website over the same period.

Dalbeath Financial Planning director Matthew Harris says: “MAS is getting there but the directory is still not perfect and needs to be more prominent on its website.

“We are getting lots of enquiries from other sources like Unbiased but we are still yet to have anyone come to us from the MAS directory.”

Apfa director general Chris Hannant says: “These figures represent a promising start, but we need to look at what we can do to get more people using Pension Wise.

“From there, we can get more Pension Wise referrals to advisers.”

The MAS directory was branded “not fit for purpose” by advisers after it launched with a number of technical issues, which were later resolved.

Last month MAS chief executive Caroline Rookes said the organisation plans to roll out a series of improvements to the directory, which will include allowing those listed to amend their own details.

Unbiased says out of 320,000 searches since April, half have taken steps to contact an adviser.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. 8,000 people clicked on advisers web links etc. is that 8,000 individuals or is that 8,000 clicks on web links and contact details? I can only imagine that most people will contact more than one adviser after having used the MAS site, therefore does this mean that more like only 4,000 of the 32,000 individuals have attempted to contact an adviser – less if they have contacted 3 or 4 advisers. and from the contacts we have had most people have contacted at least 3 others.

  2. How many of them engaged with and paid for the services of an adviser? probably the only meaningful stat that matters.

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