The government has agreed to an independent review of the Money Advice Service (MAS) following pressure from the Treasury Select Committee (TSC).
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Support services group True Potential has appointed Laurie Edmans, a Money Advice Service (MAS) non-executive director and former board member of the Pensions Regulator, as non-executive director.
The Association of Professional Financial Advisers (APFA) has asked for the Money Advice Service (MAS) to evaluate its effectiveness in changing consumer behaviour and to publish its findings within one year.
The Money Advice Service (MAS) has reported a steadily growing customer base in the last year, and said it had reached ten million contacts by the end of 2013.
The Association of Professional Financial Advisers (APFA) has called on the regulator to adjust next year's fees for advisers to "correct the error that occurred" in the previous year.
Caroline Rookes, the chief executive of the Money Advice Service (MAS), has hit back at critics of the organisation, saying the MAS is now delivering a "very effective" service and does not "step on the toes" of financial advisers.
The industry-funded Money Advice Service (MAS) has ignored calls by MPs to cut its marketing budget, saying it needs the multi-million pound pot to "encourage people to take action" on financial matters.
A Treasury sub-committee, led by Labour MP George Mudie, has today called for an urgent independent review into the Money Advice Service (MAS), after it found "serious problems" in how the body operated.
MPs have called for an urgent independent review into the Money Advice Service (MAS) after a damning report criticised its role and reach, and questioned the salaries it pays its top executives.