MAS wants advisers' secrets in 'wellbeing' project

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The Money Advice Service (MAS) is calling on stakeholders in the financial services industry to share their knowledge of what works for consumers as part of a wider project designed to improve the overall financial wellbeing of Britons.

Over the next ten weeks, individuals, groups, charity organisations and others are invited to provide evidence of projects and initiatives which have successfully improved people's financial health.

The MAS said the evidence gathered will ultimately lead to a five year strategy - to be published in 2014 - which will set out a ‘blueprint' to help people across the UK to manage their money.

Caroline Rookes, CEO of the Money Advice Service, said: "I call on everyone - in small groups or large organisations across the UK - who has done something to help someone manage their money better, to tell us about it. We want to know what they did, and why it worked. However small the initiative, we want to hear about it.

"Today's call for evidence signals the start of a major milestone for everyone with an interest in financial capability.

"Gathering a wide a selection of views and insights will take us one step nearer understanding how we can best help people manage their money, and improve the UK's financial wellbeing."

During the call for evidence, and in order to provide an authoritative view of the state of the UK's financial wellbeing, the MAS said it will publish a comprehensive survey about how financially astute the UK population currently is.

This new study will track the UK's progress since the Financial Services Authority (now the Financial Conduct Authority) published results from a similar study in 2006. The new survey will incorporate findings from other research commissioned by the MAS, including a project called ‘Money Lives'.

Evidence can be submitted to the service by 26 July HERE.

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