MAS consumer contact up 40% year on year

Carmen Reichman
clock

Almost 1.6 million more consumers contacted the Money Advice Service (MAS) in the last three months than in the same period last year, latest figures show.

MAS' performance figures for the months July to September showed consumer contact - comprising a visit to the website, web chat, phone or face-to-face session - was up 42% on the previous year, as 5.4 million people were recorded as having used the service. The vast majority were online contacts, recording more than five million users. The MAS has an annual target of 16 million contacts, up from 5.45 million last year. Last autumn it was branded "not fit for purpose" by the Treasury committee (TC), which found it was failing in its objectives and not offering value for money. La...

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 Regulation

Trade bodies call for chancellor to stop FCA public enforcement

Trade bodies call for chancellor to stop FCA public enforcement

‘Proposals to publicise investigations are a worrying development’

Isabel Baxter
clock 29 April 2024 • 2 min read
SDR extension plans will ensure 'uniform standard' for portfolios

SDR extension plans will ensure 'uniform standard' for portfolios

'Retail-focused firms are also facing a short timeline to prepare'

Cristian Angeloni
clock 24 April 2024 • 4 min read
FCA proposes advisers and platforms 'must' communicate SDR labels

FCA proposes advisers and platforms 'must' communicate SDR labels

Distributors also must provide access to consumer-facing disclosures

Isabel Baxter
clock 23 April 2024 • 1 min read