APFA responds to MAS consultation on adviser directory
06 June 2014
The Association of Professional Financial Advisers (APFA) has responded to the news that the Money Advice Service (MAS) is consulting on plans to launch a retirement adviser directory. The aim of the directory will be to provide people approaching retirement with a list of suitable financial advisers, as well as the ability to compare different advisers based on cost.
Chris Hannant, Director General at APFA, said:
“We think there needs to be a directory of advisers for retirement, to complement the pension flexibility reform. MAS need to make it attractive to advisory firms. If they try to be a regulator, as they suggest by setting further standards beyond FCA requirements, not only will take up be low, but they will not be able to justify funding from the whole advisory sector.
“We welcome that MAS recognise the fact that criteria need to be set in agreement with industry and consumer representatives, and will work with MAS on getting this right.”
ENDS
