Single Financial Guidance Body responds to FCA review of debt management firms

Caroline Siarkiewicz, Debt Advice Expert and Director at the Single Financial Guidance Body commented:

“The FCA has identified improvement in the quality of advice provided by debt management firms, which is a good outcome for consumers.

“We support the FCA’s call for continued improvement in the identification and treatment of vulnerable consumers. Greater accountability is needed to ensure all providers meet the same standards of advice delivery and take steps to protect consumers.

“If you’re struggling with debt and don’t know where to start, it’s always best to talk to an experienced adviser. There are different solutions for getting back in control of debts and the solution that is best for you depends on your personal circumstances. The Money Advice Service website has a free debt advice locator tool which will help you find your nearest free debt adviser who can help you take back control.”