Money Advice Service

One thing you can say about the recent Review of Simple Financial Products is that Carol Sergeant and her team have done their homework. If nothing else, it breaks down and builds up a clear target market for a simple income replacement concept.

The Financial Services Authority (FSA) board has expressed concerns about the accountability of the Money Advice Service (MAS).

The government has been criticised for its insistence that the Money Advice Service (MAS) should be responsible for educating consumers about risk.

Adviser trade bodies AIFA and the IFA Centre have both criticised the Money Advice Service in a submission to the Treasury Select Committee.

The Financial Services Consumer Panel (FSCP) has urged the Money Advice Service (MAS) to expand its offerings and ‘push regulatory boundaries' in order to help to close the advice gap.

WHAT'S RDR?

The simple financial products initiative is already proving contentious in the protection market. Carol Sergeant, the leader of the steering group, tells Owain Thomas the industry needs to think differently if it is to succeed.

The Financial Services Consumer Panel (FSCP) said it is "unreasonable" to expect consumers to understand complex financial products and services.

How will people buy insurance in future? Greg Becker visits the US for developments in online distribution.

A marked change in consumer awareness is causing consumers to take an "austere" self-assessment of protection needs, Swiss Re has said.