Media comment: FAMR announcement

Tuesday 11 April 2017

Speaking about FCA’s announcements today on the progress of the Financial Advice Market Review, Caroline Rookes, Chief Executive for the Money Advice Service said:“We are pleased to be supporting the FCA and HMT to ensure the best access to guidance and advice for consumers. We believe that clarity and consistency for consumers is of paramount importance and are pleased to continue our existing work on FAMR’s recommendations, keeping consumers at the heart of that work as it continues.

“Thus far, we have worked closely with the FAMR subgroups to fund research into the key terms which would best help to describe the difference between guidance and advice for consumers as well as helping to develop, test and refine messages about money which will help improve people’s money management skills. We have also created a new employer resource to provide valuable tips and tools to help employees make the most of their money. This is vitally important – we know that financial education in the workplace can have a significant positive impact on improving people’s ability to manage their money well. We will continue to work closely with all parties involved to ensure that guidance, and appropriate signposting towards regulated advice, is available for people when they need it.”