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Ad watchdog pursues Money Advice Service complaints
The Advertising Standards Authority (ASA) is pressing ahead with three points raised by complaints about the Money Advice Service (MAS).
In late July, 77 financial services professionals lodged complaints about television advertisements for MAS, sparking an investigation.
The ASA yesterday said it had rejected several of the complaints, but will pursue three main points it feels are valid grievances.
The watchdog will investigate claims the term “Money Advice Service” and the use of the word “advice” in the ads is misleading because complainants allege it is information, not advice.
The MAS’ claim in its ad that its advice is “independent and unbiased” is under investigation as complainants said this gives the impression the information covered is protected by professional indemnity insurance.
Complaints that the claim MAS is “set up by the government” will also be investigated, as the website was set up by the Financial Services Authority (FSA), an independent regulator.
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The ASA has informed complainants by letter if their complaints were rejected.
In particular, the complaint that MAS breaks FSA rules was rejected as the ASA said MAS is not regulated by the FSA in the first place.
An ASA spokesperson said: “We are currently liaising with MAS and will publish our findings in due course.”