Money Advice Service
Last updated:
12/08/2011 15:12
In April 2010, the Consumer Financial Education Body (CFEB) was established, tasked with setting up a new national financial advice service. The Government asked CFEB to develop "a new annual family financial health check", based on the Money Guidance pathfinder service rising from the Thoreson review.
CFEB has become the Money Advice Service (MAS) and has launched an online Financial Health Check and corresponding advertising campaign from May 2011.
The Health Check attempts to provide a tailored personal financial action plan based on the responses to a series of questions. As the service is not regulated by the FSA it is unable to provide a specific recommendation on the suitability of a particular product or provider.
MAS is currently funded through several sources including fees raised by FSA authorised firms.
The ABI encourages everyone to try this online financial health check to help you manage your money well. For example, the health check will help you think about how you can protect yourself from things that could have a damaging impact on your money situation, and what you can do to plan for the future.