View more on these topics

Pensions minister: Advisers needed for guidance body success

Understanding a pension can be difficult. For those who need help, a conversation with a real person makes a huge difference. We are working hard to make sure everyone can have that conversation with an expert, whether they need guidance or advice.

The Single Financial Guidance Body, set to launch in the winter, will offer free and impartial pensions and money guidance, and debt advice.

The three existing bodies it will join together – Pension Wise, The Pensions Advisory Service and the Money Advice Service – already help millions of people each year.

Pension Wise alone has had nearly seven million website visits and organised over a quarter of a million appointments in three years, while MAS has helped more than 480,000 people in a single year.

Former FSA chief Sants to chair new guidance body

But it is clear not everything can be solved through guidance alone and that advice from experts should be sought where needed.

Indeed, the guidance body is part of a wider effort to make financial services easier to understand and access. And it has taken another step forwards with the appointment of Sir Hector Sants as chair.

He brings with him vast experience and knowledge on how best to support people with problem debt and build wider financial capability from a range of private and third sector organisations.

The guidance body will give people a place to turn when they need answers on their money and their pensions, as well as support in considering their future financial plans.

Pensions minister: New guidance body will not slash staff

Advisers, meanwhile, will play a crucial role in further helping people understand what their money means for them.

Guidance and advice must complement one another to ensure consumers have everything they need for a more secure retirement. This is an important step on the path to creating more accessible financial services.

Guy Opperman is minister for pensions and financial inclusion



MAS welcomes Sants appointment as guidance body chair

The Money Advice Service has welcomed the appointment of former FSA chief executive Hector Sants to run the government’s new Single Financial Guidance Body. Sants left the regulator before it became the FCA in 2013, and has taken on roles with Barclays, management consultancy Oliver Wyman and debt charity StepChange since then. While no official announcement was […]

Old Mutual names price for Quilter shares

Old Mutual Plc has revealed the prices in its global offer for shares in the former Old Mutual Wealth. The price range has been set between 125 pence to 155 pence per ordinary share. Now rebranded to Quilter, under Old Mutual’s managed separation strategy the business will be the first breakaway from the parent group to […]

Argentina & the IMF

Thomas Smith, Co-Head of Emerging Market Equities, Neptune An interview with Reza Moghadam, who spent more than twenty years at the IMF, where he shares his views on Argentina’s negotiations with the IMF… Investment risksThe value of an investment and any income from it can fall as well as rise as a result of […]


News and expert analysis straight to your inbox

Sign up


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

  1. So how are you going to drag the disinterested into engaging?

  2. Guidance is free, advice is not, we should be careful of blurring the lines between the two which would suit the powers that be.

    It is clear that suitably qualified staff would probably not join the guidance service, but if IFA volunteers could be drafted in the problem is solved. We should stand our corner and put a price on good quality advice, not give it away for free,something that only the privileged few can afford to do.

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