Sources of financial Advice- Latest Update 2025 Questions and Answers Solved Correctly
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Sources of financial Advice
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Sources Of Financial Advice
Sources of financial Advice- Latest Update 2025 Questions and Answers Solved Correctly
what form does support take in addition to providing a system of monetary support for those on low incomes? - Answers financial advice, information, guidance and education
what did politicians from all parties...
Sources of financial Advice- Latest Update 2025 Questions and Answers Solved Correctly
what form does support take in addition to providing a system of monetary support for those on low
incomes? - Answers financial advice, information, guidance and education
what did politicians from all parties agree on in the wake of the 2007-08 financial crisis? - Answers -
there was an urgent need to improve the general public's knowledge and understanding of personal
finance
- it was felt that, when it came to handling their finances and making the best use of appropriate
financial products, too many people were 'financially illiterate', which led them to make the wrong
financial decisions and choices
'financially illiterate' - Answers knew very little about personal budgeting, about the range of financial
products and services available to them, or about how to avoid getting into unmanageable debt
what did the financial services act 2010 introduce? - Answers measures designed to improve financial
literacy
what did the act require the FSA to do? - Answers promote consumer financial education
what did the FSA consequently establish? - Answers the consumer financial education body (CFEB) to
fulfil the role of promoting consumer financial education
what was the CFEB renamed to in 2011? - Answers the money advice service (MAS), one of the
customer-facing brands of the money and pensions service (MaPS)
what did MaPS do in 2021 to make it easier for consumers to access its services? - Answers it combined
all its brands into one new brand called moneyhelper
what is moneyhelper funded by? - Answers a special levy (tax) on financial service companies and
pension schemes
what does moneyhelper provide? - Answers provides people in england with information and advice on
debt
they are the biggest funder of free debt advice
who is moneyhelper open to? - Answers everyone
what is moneyhelper helping people do? - Answers clear their debts, reduce spending, make the most of
their income, support loved ones, plan ahead for major purchases, find out about their entitlements,
build up savings and pensions and know their options
what does moneyhelper's comprehensive website feature? - Answers - a wide range of information and
advice on topic including 'family and care', 'everyday money', 'pensions and retirement' and 'benefits'
, - it also provides information about financial products, and offers extra features
what do these extra features include? - Answers step-by-step guides, and interactive tools and resources
that allow people to compare current accounts, to draw up a personal budget plan and to calculate their
mortgages, among many other things
what does moneyhelper also do? - Answers produces a blog, offers web chats and promotes the service,
by means of extensive television, radio, newspaper and poster advertising campaigns
what is the main purpose of moneyhelper? - Answers to provide the information and advice that people
need to enable them to make broad financial decisions in answer to questions such as 'what kind of
insurance products should i have?', 'how do i decide between different types of mortgage?' and 'how
can i ensure that i have an adequate pension when i retire?'
what does moneyhelper not do? - Answers offer detailed financial advice or recommend any individual
products
- this type of specific advice can be offered only by qualified financial advisers
what does moneyhelper also provide? - Answers information and advice for those who find themselves
in financial difficulties
- there are a number of pages on the website (and printed leaflets, etc) that explain the options
available to people who build up an unsustainable amount of debt to the point at which they can longer
afford to make the monthly payments
what national debt and money advice charities does the government part-fund? - Answers citizens
advice
the money advice trust (MAT)
when was the first local citizens advice bureaux (CAB) set up? - Answers in 1939, a few days after the
outbreak of the second world war, in accordance with a pre-war plan to enable volunteers (eg bank or
building society branch managers) to offer free, impartial financial advice to people whose financial
situation had been seriously disrupted by the war
- although these bureaux were independent, they were largely funded by the government as part of the
war effort
what does the citizens advice service comprise today? - Answers a registered national charity, citizens
advice, which can be found online, and more than 250 citizens advice bureaux, each of which is an
individual charity at local level and which offer face-to-face assistance in more than 2,500 community
locations
how many people does citizens advice help? - Answers citizens advice regularly helps over 2 million
people each year by phone, face to face, by email and through its website
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