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PFS launches consumer education website

The Personal Finance Society has launched a consumer education website as part a drive to improve its public profile.

Yourmoney provides guidance and tools on issues such as planning for retirement, managing debt and saving and investing.

It gives tips on how to avoid investment scams, explains the benefits and costs of regulated advice, and features a searchable directory of 22,000 advisers.

The directory replaces the PFS’s previous directory, and includes verified details of advisers’ statement of professional standing and qualifications.

PFS chief executive Keith Richards says: “We have a consumer remit under the royal charter, but we don’t have much of a consumer presence.

“We have to be in the public eye to improve consumers’ perception of the adviser profession.”

He says the new directory aims to be a place where consumers can verify as well as find an adviser, rather than be a “lead generation site”.

Richards says: “There are growing concerns about unregulated and cloned firms, and this is designed to be a register consumers can easily navigate, either when looking for an adviser or checking an adviser’s qualifications.”

He says the site is “complementary” to the Money Advice Service website, rather than a rival to it.

He says: “The more access consumers have to independent information the better, and we have tried to make the information consistent with other sources.

“The big difference in the directories is that the MAS directory is only aimed at retirement advice.”

The PFS says it is speaking to providers about signposting to the site.


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