MAS defends adviser directory vetting policy

Follows Which? research into adviser qualifications

Tom Ellis
clock • 1 min read

Responding to claims Which? has uncovered evidence of some advisers boasting false credentials on the Money Advice Service (MAS) directory, the non-governmental organisation has said it is "carrying out an audit" to ensure details of firms and advisers are correct.

In its research of 240 London, Edinburgh, and Sheffield-based financial advisers on MAS's website, Which? claims, for example, more than half - 41 out of 73 - of those who purport to be 'certified' in its research pool were unrecognised by the Chartered Institute for Securities and Invesment. As its research method, Which? asked the providers of the qualifications in question to compare their list of qualified advisers against Which?'s list of advisers who claim to have achieved the qualification on MAS's directory. Chartered status was the qualification least likely to have been unreco...

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