MAS consumer contacts up 42% year on year

Carmen Reichman
clock

Money Advice Service (MAS) partnerships with financial services organisations are "coming to fruition" as "more people than ever" have turned to the service for help with their finances, chief executive Caroline Rookes has said.

The government-appointed service handled 14.8 million customer contacts in the three quarters leading up to December, up on 10.4 million in the same period the year before. Its annual target for 2014-2015 is 16 million contacts. The vast majority of people who got in touch with MAS in the nine months to December - 14.7 million - did so via the internet. Rookes (pictured) said the MAS had made some "great leaps forward" having helped 4.9 million consumers take some form of action with their finances in the year to date, beating its 4.5 million annual target. Most - 3.5 million -...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Trade bodies call for chancellor to stop FCA public enforcement

Trade bodies call for chancellor to stop FCA public enforcement

‘Proposals to publicise investigations are a worrying development’

Isabel Baxter
clock 29 April 2024 • 2 min read
SDR extension plans will ensure 'uniform standard' for portfolios

SDR extension plans will ensure 'uniform standard' for portfolios

'Retail-focused firms are also facing a short timeline to prepare'

Cristian Angeloni
clock 24 April 2024 • 4 min read
FCA proposes advisers and platforms 'must' communicate SDR labels

FCA proposes advisers and platforms 'must' communicate SDR labels

Distributors also must provide access to consumer-facing disclosures

Isabel Baxter
clock 23 April 2024 • 1 min read