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Money Advice Service will be gone by 2015 – AMI

  • 17/04/2013
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Money Advice Service will be gone by 2015 – AMI
Association of Mortgage Intermediaries chief executive Robert Sinclair says he expects the abolition of the controversial Money Advice Service (MAS) when the body comes up for review in 2015.

Sinclair told an audience at the myhomemove conference in Leamington Spa that he expected to see the organisation closed down following its next scheduled review.

“Money Advice Service is here for at least another two years,” he said.

“I think at the end of that point it will be reviewed and probably shut down unless the new management team get to grips with it in a way that is different to how they have done up to now.”

He said that the government’s move to introduce financial services education to the school curriculum would take away part of the MAS’ purpose.

“I sit on its industry consultation body and they struggle to get a grip with what it is they really want to deliver.

“The biggest single thing that is going to shift financial education in this country is the fact that the government has now taken financial services into the curriculum and in the next couple of years that will really begin to change financial education in the UK. Not just of children, either, but also the parents of children who are going through that process.

“Therefore I think Money Advice [Service] will have to wither on the vine as that happens.”

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