Advisers back PFS free guidance initiative

Initially rolled out to 50 local Citizens Advice charities last year, the service is now offered at more than 100 services in the network across England and Wales.

The service is now set to expand, with close to 170 advisers having registered an interest. The Personal Finance Society is also investigating the potential to expand a similar pro bono advice initiative into Scotland and Northern Ireland.

Personal Finance Society chief executive, Keith Richards, said: “The government and regulator, through the Financial Advice Market Review, are currently considering ways to increase access to financial advice in recognition that people need guidance more than ever before.

“Our members have shown they are keen to give something back to the community, and a growing number of volunteers are improving access for consumers across the country."

Chief Executive of Citizens Advice, Gillian Guy, added: “Getting the right guidance can pave the way to financial security. With the MoneyPlan service set to expand, more people will be able make the most of the link between the money advice we offer and the generic financial advice of qualified MoneyPlan volunteers.”