APFA responds to MAS adviser directory criteria announcement

15 December 2014

APFA has responded to the key eligibility criteria for firms wishing to be listed on the Money Advice Service’s retirement adviser directory, announced by MAS today.

Chris Hannant, Director General of APFA, said:

“In our view, if the directory is going to add value, it needs to do more than existing directories. It can do this by more closely matching client to adviser. To do this, it will need as broad a cross-section of the market possible and so it will be important the criteria for entry are not drawn too tightly. It must allow advisers to indicate the clients they are able to serve, so that users can select an adviser based on their preferences and needs simply and efficiently.

“Professional financial advice will have a significant role to play under the new retirement rules, so it is vital that MAS gets this right. We will be discussing this further with our members and will remain in close dialogue with MAS as April 2015 draws closer.”

ENDS