PFS chief adds to calls for MAS and TPAS to consider name-change

As both organisations have been tasked with delivering free and independent 'guidance' to retirees on their options from April, PFS chief executive Keith Richards said their use of the words 'advice' and 'advisory' may mislead the public to believe they are receiving a regulated service, which carries consumer safeguards. The public should be educated to understand the difference between 'advice' and 'guidance', he said, adding guidance offered by the Money Guidance Service and The Pension Guidance Service "would seem a logical and helpful change making it more intuitive for consumers". ...