More about the Forces MoneyPlan initiative.
- What are the requirements to participate in the scheme?
You must be a member of the Personal Finance Society member with a valid Statement of Professional Standing
- Is it advice or guidance?
Initially you will be giving generic financial advice. This is not regulated financial advice and will not result in any specific recommendations.
- Will it affect my PI premiums?
By giving generic financial advice without a personal recommendation it should have no effect on your existing professional indemnity arrangements.
- What about follow-up advice?
One outcome from the initial guidance session might be a subsequent request for commercial regulated advice, but participating advisers in this scheme will commit to follow clear process that ensures a 'clean break' takes place after the guidance session and leaves the recipient to make contact in respect of any need for subsequent regulated financial advice.
- How much time will I have to commit?
The time we envisage adviser members committing to Forces MoneyPlan will vary between a few hours and a full day every month. Support can be delivered by telephone as well as face to face.
- When will the scheme be launched to Armed Services personnel?
This was launched in June 2017 to On Course Foundation members and in July 2018 to members of Blesma – the limbless charity.