View more on these topics

MAS seeks advice firm for staff


The Money Advice Service has approached advisers on its directory with a view to hiring a firm for its own staff.

In an email sent to advisers, seen by Money Marketing, the MAS says it is considering appointing an advice firm following the Financial Advice Market Review’s work into the role of employers.

In March George Osborne announced Government plans to raise the £150 per employee tax break for workplace pension advice to £500. This followed a FAMR recommendation to make greater use of employers to help bridge the advice gap.

The MAS is looking for an advice firm that earns at least 50 per cent of its annual turnover from workplace financial advice.

The firm must have advisers qualified to give regulated advice on pensions accumulation, defined benefit pension transfers, retirement income, saving and investments, mortgages, and protection insurance.

It wants the firm to start as soon as possible and the contract will last until March 2018.

The MAS is due to be scrapped and replaced with two new guidance bodies, one specialising in pensions which will also include functions currently provided by the Pensions Advisory Service.



Consumer panel warns of ‘real risk’ to consumers from MAS closure

The Financial Services Consumer Panel has called the Government’s consultation on public financial guidance “sketchy” and says the abolition of the Money Advice Service would leave consumers without a source of impartial financial guidance. The Treasury consultation closed on 8 June. Launched after the March Budget, it outlined plans to close the Money Advice Service with its […]


MAS shelves digital support service and cuts nine roles

The Money Advice Service has shelved plans to introduce a piloted digital service as it put nine roles at risk of redundancy due to scrapping its entire marketing budget. The MAS announced its 2016/17 business plan today, which confirmed its overall budget would reduce by 7.5 per cent to £75m and its £8.83m marketing budget would […]


MAS to do yet more gap filling research ahead of break-up

The Money Advice Service has outlined how it intends to work with Government and the regulator to tackle guidance gaps once it is split into two separate bodies in 2018. According to its 2016/17 business plan, the MAS, the Treasury and the FCA are to research what the MAS provided through its channels – including […]

Industry under fire over pension freedoms

By Jamie Clark, Business Development Manager, Royal London Recent articles in the media have raised concerns about the new pension freedoms. One perceived problem is that across the industry, trustees and providers are not necessarily allowing people to take full advantage of the pension freedoms in situ. This is backed up by a recent survey by […]


News and expert analysis straight to your inbox

Sign up


There are 3 comments at the moment, we would love to hear your opinion too.

  1. Well they may as well use what’s left of the budget…. Heaven forbid they had a surplus!! Saucy in the extreme!

  2. David Cathcart 7th July 2016 at 7:08 pm

    I thought this type of proposal was put forward well before MAS was ever constituted. Talk about shutting the gate after the horse has bolted

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm