Government consults on new financial guidance body

Will continue to be industry-funded

Tom Ellis
clock • 3 min read

The government has opened a consultation on creating a single financial guidance body after autumn 2018, which will continue to be industry-funded.

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 ...

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

TISA warns FCA's targeted support could 'cause confusion' and hinder rollout

TISA warns FCA's targeted support could 'cause confusion' and hinder rollout

Industry group calls for more flexibility on disclosure

Sahar Nazir
clock 17 October 2025 • 2 min read
You can always make more money, but you can't buy more time

You can always make more money, but you can't buy more time

What’s the ROI on a memory that lasts forever?

Chris Ball
clock 16 October 2025 • 3 min read
Autumn Budget 2025: Reeves should use Budget to 'merge ISAs not cut tax-free limits'

Autumn Budget 2025: Reeves should use Budget to 'merge ISAs not cut tax-free limits'

The updates advisers need in the run up to the Autumn Budget 2025 on 26 November

Professional Adviser
clock 16 October 2025 • 1 min read