Advisers could benefit as MAS money budget set to be cut

Chief executive Caroline Rookes (pictured) said the service, which will publish its fees as part of the regulator's consultation on fees and levies this week, is to recommend a money advice budget cut of around 20%. Last year's money advice budget was £43m, while the budget for debt advice was £38.1m. Advisers contribute to the MAS's money service alongside all other regulated financial services firms, with banks and building societies funding the debt service. Advisers contributed £3.6m toward the MAS for the current year, representing a decrease of about 18% on the previous year....