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Guidance body kickstarts events on strategy

Guidance body kickstarts events on strategy

The government's new guidance body will start of a series of roadshows where financial advisers will be able to have their say on its future strategy.

The Money and Pensions Service, which launched earlier this month, will be travelling to 10 towns and cities in a series of roadshows to gather adviser views on what areas the guidance body should focus on. 

The first event takes place in Bristol at Brunel’s SS Great Britain on Gas Ferry Road between 10am and 3.30pm on 25 April, 2019. The event will allow advisers and local businesses to have an input in improving financial wellbeing in their communities and across the country.

The event is free to attend and will be split into two sessions. The morning will focus on some of the key strategic decisions that need to be made about how and where the new Money and Pensions Service prioritises its efforts, while the afternoon will focus on what is happening in Bristol and how input from stakeholders can ensure people get the help they need to make the most of their money and pensions.

John Govett, chief executive of the Money and Pensions Service, said: “Improving financial wellbeing in Bristol – and the UK as a whole – is only possible through collective action, and engaging a wide community of organisations and businesses for their views is the first step. It is crucial that anyone who has an interest in improving people’s ability to manage their money and pensions is able to contribute to the conversation about what’s needed.”

The new body, which was made up of the merger of Pension Wise, the Money Advice Service and The Pension Advisory Service, is a joined-up service for everything from debt help to money and pensions guidance. 

The series of events will run until the end of June and will visit Belfast, Birmingham, Bristol, Cardiff, Dartford, Edinburgh, Leeds, London, Manchester and Peterborough.

The new Money and Pensions Service website will go live towards the end of 2019, and will use the findings from the roadshows to enhance its offering. Until then, guidance will continue to be available through the websites of the previous component parts of the Money and Pensions Service – Pension Wise, the Money Advice Service and The Pensions Advisory Service.

Hector Sants, chairman of the Money and Pensions Service, said: “Making financial decisions is not unlike shopping at the supermarket – consumers are confronted with many options and must decide what is the best choice for them based on what they need, on price and quality. There has been a lot of great work over the past few years to enable people to make more informed food choices; it’s time to think about financial wellbeing through a similar lens.

“With 47 per cent of adults saying they do not feel confident about making decisions about financial products and services, its essential people feel empowered to engage more regularly and more confidently with their money and pensions, so they can enjoy greater financial wellbeing throughout their lifetimes.”