Money Advice Service

The Money Advice Service is an organisation that provides free-of-charge advice on money and financial decisions to people in the United Kingdom.It is an independent organisation whose statutory objectives are to enhance the understanding and knowledge of people about financial matters (including the UK financial system); and to enhance their ability to manage their own financial affairs.

The service was launched in April 2011,[1] superseding the Moneymadeclear-branded service provided by the Consumer Financial Education Body. Prior to 2010, the service had been a division of the Financial Services Authority (FSA). It was set up by the UK Government and is paid for by a statutory levy on the financial services industry.[2] The service has an independent Chairman and board appointed by the FSA.

In June 2011 the service launched its online Health Check, backed by a TV advertising campaign.

In March 2016 HM Treasury announced that the service would be abolished and replaced by a smaller advice service.[2]

References

  1. ↑ "UK financial advice service launched". BBC News. 4 April 2011. Retrieved 16 March 2016.
  2. 1 2 Milligan, Brian (16 March 2016). "Budget 2016: Money Advice Service to be abolished". BBC News. Retrieved 16 March 2016.
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