Thoresen Review recommends money guidance service for UK consumer

The UK needs a national money guidance service for consumers, with the cost shouldered equally by the...

The UK needs a national money guidance service for consumers, with the cost shouldered equally by the Government and the financial services industry, according to the final report of the Thoresen Review. Money Guidance would dispense ‘sales-free’ advice by phone, internet and face to face, with the aim of giving people the confidence to make sensible financial decisions. The impartial service would cover budgeting, saving and borrowing, insurance and retirement planning. The report’s author Otto Thoresen is recommending the FSA should take the new strategy forward. The industry’s contrib...