The CII (which includes the Personal Finance Society) agrees
that the process of referring customers to regulated financial
advice needs to be improved, but disagrees that the Money Advice
Service should create a single adviser directory.
However, we disagree that the answer lies in building a new
adviser directory hosted by the Money Advice Service (MAS). This
would duplicate services already offered, would require a
considerable investment of resource in an area outside of its
existing capability, and yield limited overall benefit.
Instead we think better coordination among directory providers
is needed, and that MAS should work with those organisations to
establish a set of common criteria on usability and access
parameters so that customers experience a more similar journey.
This exercise could be made more effective if MAS considered
improving the technology on how these external directories link to
its website. Adopting technology that integrates the compatible
directories more seemlessly into a customer-controlled search
"front end" hosted on the MAS site would make full use of existing
resources while creating a far simpler journey for customers.
View the attached document »
Freedom & choice in pensions: HM Treasury response and FCA
consultation (CII Policy Briefing)
CII response to HM Treasury consultation: Freedom & choice in