'What the hell are you doing with it?' MPs attack MAS over budget

Carmen Reichman
clock

The Money Advice Service (MAS) has come under fire from MPs after a sub-committee of the Treasury Select Committee (TSC) accused CEO Caroline Rookes that her organisation does not know what it is doing on money advice.

The hearing, which was part of an inquiry into the service that has lasted for more than a year, asked Rookes, who only took over in January, to justify her organisation's value for money. The sub-committee found that the MAS was still overspending on marketing and did not spend enough on actual service delivery, particularly on money advice. It also criticised the language in the organisations's business plan, which it called "meaningless". TSC sub-committee chair George Mudie said: "Last year we were livid that you spent one quarter of your income on marketing. It has not changed...

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 Your profession

Why human connection remains central in a digitally enabled advice sector

Why human connection remains central in a digitally enabled advice sector

'It is clear that the sector is moving through a significant period of transformation'

Tim Riseborough
clock 17 December 2025 • 3 min read
Why advisers shouldn't rush into private markets

Why advisers shouldn't rush into private markets

'There's only so long the hamster wheel can keep turning'

Justin Cash
clock 15 December 2025 • 4 min read
Adviser workload set to rocket ahead of IHT on pensions changes

Adviser workload set to rocket ahead of IHT on pensions changes

Large volumes of clients will need reviews of financial plans

Isabel Baxter
clock 15 December 2025 • 3 min read