Rebuilding trust seminar
Following Tony’s words of welcome to our guests, Gerard gave a speech that started at St Paul’s Cathedral, with reference to the Occupy London campers, and ended in Washington Square, New York, with an anecdote about strangers cooperating to help directionless toy cars to their destinations.
In between, he told the audience that the Money Advice Service aims to work alongside people, not above them. He said the Service ‘must be there for people as they approach and go through key life events – not preaching or patronising, but assisting to a point where people feel good about their financial situation.’ Gerard said ‘we want to be at the forefront of people’s minds so they know we are there when they need us, like Google or the NHS.’ Turning to financial capability, Gerard described the Service’s approach of combining attitudes and mindsets with key life event and said, ‘being good with money is a state of mind, not being a mine of information.’ He emphasised the importance of working with young people and their parents, and of offering advice directly those aged 18 to 25 as they make the transition to adulthood. Gerard thanked those in financial services for their support and argued that, by placing its trust in consumers, the Service can create a win: win for both the industry and consumers by helping people become better informed, more ready to take decisions and act on them.