A new independent service giving consumers advice on financial issues has been launched.
The Money Advice Service, which replaces the Consumer Financial Education Body, will operate centres across the country as well as offering advice over the phone or online.
It has been set up by government and is funded by a levy on the financial services industry.
Victoria Nye, director of education and training at the IMA, has welcomed the introduction of the new service.
She says: "The Money Advice Service offers a wealth of information, resources and interactive tools to help people make informed decisions about money.
"We look forward to working with the Money Advice Service on consumer education initiatives, helping consumers understand the principles of investing, the importance of long-term saving, and the role investment funds can play."
For 2011/12, the organisation has received £43.7m in funding from fees raised from financial services firms regulated by the FSA.
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