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MAS adviser directory opens for registration

by: Carmen Reichman
  • 27/01/2015
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MAS adviser directory opens for registration
The Money Advice Service (MAS)’s retirement advice directory, put in place to support the incoming pension freedoms, has opened for adviser registration.

Eligible advisers will be able to register their firm and eligible advisers’ details on the MAS website from 27 January.

The goal of the directory is to make it easier for consumers approaching retirement to find a regulated financial adviser.

It follows the new pension freedoms announced in last year’s Budget and aims to support the government’s free at-retirement guidance service, Pension Wise, which will signpost people to advice should they need it.

The directory will list regulated advisers who fulfil certain criteria, including being “active in the retirement planning market and have the ability to provide regulated financial advice for either ‘at’ or ‘post’ retirement planning”.

It will accept full, focused or simplified advice propositions, as long as they include giving a personal recommendation, as outlined by the regulator in a recent paper.

The directory will allow restricted advisers to register but the MAS said they will be “asked to confirm that their advisers will consider a wide range of providers within the market they have chosen to focus on”.

The MAS, which was dropped from the face-to-face delivery of the guidance guarantee in October, said it will also continue to develop its online content to help people budget and consider their options in the run up to and through retirement.

Chief executive Caroline Rookes said: “As the government’s pension reforms are implemented, it is really important that consumers in every part of the country know where to turn to find a specialist retirement adviser who can help with their individual circumstances at a very crucial time in their lives.

“We hope that advisers who meet the entry criteria from right across the UK sign up to be listed on the directory – especially now that Pension Wise will be signposting consumers looking for regulated advice to the directory.”

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