Money Guidance service in demand - CII

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A large number of UK consumers feel they would benefit from the Money Guidance service proposed by the Thoresen Review new research reveals.

The survey by the Chartered Insurance Institute (CII) found 45% of people would use the proposed Money Guidance system of generic financial advice. It says concerns about the credit crunch have made the need for such a service more apparent, with many consumers concerned about their finances. More than half of all respondents felt less financially secure due to the state of the economy, and a third were worried they might lose their jobs. The survey also found 65% of consumers would struggle to meet the debt obligations with even a modest rise in interest rates, while one in ten homeowne...

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