Government consults on new financial guidance body

The new guidance body will be responsible for debt advice; guidance on pensions; scam prevention; guidance on wider money matters; and co-ordination of non-governmental financial education programmes for young people and children. It will replace existing guidance providers the Money Advice Service (MAS), The Pension Advisory Service (TPAS) and Pension Wise, as first announced in this year's budget. However, it will be similarly funded to the current guidance bodies, with industry including advisers picking up the bill. The government said: "A levy funded model remains appropriate ...