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Mas improving retirement advice directory

Mas improving retirement advice directory

The Money Advice Service is in the process of improving its retirement advice directory, which was launched earlier this year.

Chief executive Caroline Rookes said the service, which launched in April, has so far proved popular, with more than 6,000 advisers signed up and 17,500 unique visits.

She said: “We have now got more than 6,000 advisers signed up. We are improving the retirement advice directory and making some changes that will enable advisers to change their profile and generally make the directory more serviceable.

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“We are told advisers who use it are getting custom from people who would not previously have sought regulated financial advice.”

Almost 4m people visited the site in the first quarter of the year. The most popular tools on the website included the Stamp Duty calculator, with 155,593 completions, the mortgage affordability calculator, with 127,366 completions, and the pension calculator, with more than 88,000 completions.

Ms Rookes also dismissed claims that Mas might struggle to find its niche now Pension Wise is being provided by other bodies and following a reduction in spending of 30 per cent year-on-year.

She said: “It is not just about pensions advice that we offer. We offer advice, education and guidance from cradle to grave.

“We have a huge plan of work around financial education in schools.”

Meanwhile Mas is working with more than 250 partners to develop a new financial capability strategy which Ms Rookes said would be launched towards the end of October.

Adviser view

Ben Sear, managing partner of Suffolk-based Martin Redman Partners, said: “We did sign up to Mas’s retirement advice directory, but I don’t think we have had anything come back from it.

“One of the problems is that there is a huge disconnect between what advisers charge and what the public wants to pay.”