The Government is to set up a panel to give free financial advice to consumers for 15 minutes. Ed B...
The Government is to set up a panel to give free financial advice to consumers for 15 minutes.
Ed Balls, economic secretary to The Treasury, said a new taskforce had been asked to research and design a national generic financial advice service to ensure that every person, including those on low incomes can receive quick and simple access to financial advice.
According to Balls, the Government believes everyone is entitled to get advice that they can understand and trust.
An action plan will be published by the end of 2007.
The taskforce is headed by Otto Thoresen, chief executive at Aegon UK; and while a good thing, industry experts have expressed concern that it may be confused with getting real financial advice.
