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Money Advice Service faces tough task to meet annual target

Money Advice Service

The Money Advice Service says a total of 1.23m consumers used the service between April and December last year against a full financial year target of 1.9m.

The MAS has today set out its progress in improving consumers’ financial capability for the nine months to the end of December.

The data shows the majority of MAS customers used MAS’ website and online tools, with 1,087,000 online users. A further 70,000 consumers used MAS for face-to-face advice, with 64,000 using the service for telephone advice and 6,000 using its webchat service.

The MAS does not have comparative data for the nine months to December 2011. For the full 2011/12 year, the MAS had 1.3m customers, of which 74,000 were given face-to-face advice, 84,000 received telephone advice and 1.14m accessed the service online.

For the full 2012/13 year, the MAS is targeting 1.9m total customers, 88,000 users of its face-to-face advice service, and a combined target for its telephone and webchat service of 90,000.

It also wants to generate one million action plans for customers, which are produced via MAS’s online health check, other online tools, and through face-to-face advice sessions. It has currently generated 495,000 action plans.

Based on monthly “exit poll” surveys of around 700 MAS users, MAS claims 70 per cent of respondents said the MAS helped them decide on a course of action, 81 per cent said the MAS had provided the information required and 88 per cent said they would revisit the MAS.

The MAS is currently carrying out research into whether consumer engagement with the MAS results in action, and says it will report on its findings as part of its annual review later this year.

MAS director of service delivery and marketing communications Karen Broughton says: “We are pleased with the customer satisfaction levels and the direction of travel against our business plan targets. We are confident we are going to hit all of our key deliverables in terms of customer numbers and action plans, and across all of our channels.”

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Comments

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

  1. Am I the only one that is worried that if it goes to court their constant use of ‘advice’ could result in claims against MAS which will fall on the FSCS?

  2. We are going to get blamed for this arn’t we?

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