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Financial advice pilots to be launched

12 September 2007
The Thoresen Review, set up by the Treasury to identify ways of providing generic financial advice (GFA), has announced a number of pilot schemes.

To be undertaken by Consumer Direct, Citizens Advice, Cumbria County Council, Agilisys and A4e, the trials are to be conducted in London, Staffordshire, South Yorkshire and the north-west.

It is intended that the pilots will test the delivery of GFA across several channels, while also aiming to provide guidance on a number of issues for more than 5,000 consumers.

Economic secretary to the treasury Kitty Ussher said: "Generic financial advice has the potential to help people across the UK to manage their money and to ask the right questions of financial suppliers."

Speaking at a savings conference recently, leader of the review, Otto Thoresen, outlined his aims for the GFA scheme, stating that the goal was to help people become "financially competent" consumers.

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