New guidance body must have a statutory objective for improving 'financial resilience'

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New guidance body must have a statutory objective for improving 'financial resilience'

The new Single Financial Guidance Body (SFGB) must improve consumer financial resilience as part of its statutory objectives, SAMI Consulting has urged.

Prominent among these statutory objectives should be the objective of "maximizing the resilience of households to the financial effects of accident, sickness, disability and other income shocks". The response was issued to the Public financial guidance review: consultation on a single body, by SAMI Consulting's Richard Walsh and Alan Woods, under the auspices of the Income Protection Task Force. The government has been consulting on introducing a public Single Financial Guidance Advice body...

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