Launch of free financial advice service

A NEW independent service was launched this week to offer free advice on financial issues over the phone, the internet and face-to-face through a nationwide network of centres.
By The Newsroom
Published 9th Apr 2011, 07:00 BST

Money Advice Service, which was initially set up by the Government, will provide unbiased advice on money matters.

The service will be completely free to use, as it is funded by a charge levied on the financial services industry and collected by the City watchdog. It replaces the Consumer Financial Education Body, which has until now run a site called Money Made Clear.

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Money Advice Service will provide a far more comprehensive advice offering, including face-to-face meetings for the first time.

In England and Northern Ireland, the face-to-face service is delivered by public sector contractor A4E, while in Scotland and Wales it is delivered by Citizens Advice Scotland and Citizens Advice Wales respectively.

It is hoped the scheme will give people more control over their finances and help them make the most of their money.

Gerard Lemos, chairman of the Money Advice Service, said it has been designed to “make people’s lives easier and better”.

“We’re not here to sell people anything and we won’t charge anyone,” he said.

Related topics:GovernmentNorthern IrelandEnglandScotlandWales