Lemos defends MAS against 'crap' jibes

clock

Money Advice Service (MAS) chairmn Gerard Lemos has defended the organisation against the torrent of criticism it has received, insisting it is "crap".

The adjective was used to describe the service's tools by Money Saving Expert founder Martin Lewis, who also called it "bland, boring and unnecessary", as well as a narcissistic "brand-building exercise", while appearing before a Treasury Select Committee sub-committee last week. Giving evidence before the same committee yesterday, Lemos was challenged by Labour MP Andy Love on the use of service's £46.3m budget for money advice and its effectiveness in comparison to commercial operations. "We are transforming the service in order to reach far more people," he said. "Over the next few...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA issues warning notice against Crispin Odey over 'lack of integrity'

FCA issues warning notice against Crispin Odey over 'lack of integrity'

Regulator alleges 'reckless disregard' on governance

Cristian Angeloni
clock 04 November 2024 • 2 min read
FCA bans and fines two over pensions transfer advice

FCA bans and fines two over pensions transfer advice

'Poor advice' related to BSPS transfers and other schemes

Jen Frost
clock 31 October 2024 • 2 min read
Donre Advisory-owned SIPP operator enters administration

Donre Advisory-owned SIPP operator enters administration

PSG SIPP administered schemes transferred or to be acquired

Jen Frost
clock 29 October 2024 • 2 min read