CII Group back financial capability action plan
The CII Group has reacted to the joint Treasury and FSA statement on a financial capability action plan by saying a coordinated national strategy on financial capability is essential, with financial advice being offered be face-to-face wherever possible, if public confidence in the financial services sector is to be restored.
Detailed research published last week from the CII on consumer financial capability in the current economic climate concluded that more than half (53%) of those surveyed are less confident their savings are safe, with nearly six out of ten (58%) people saying they feel less financially secure.
The research also showed that proposals made in the Thoresen Review for a national ‘drop in’ Money Guidance service could help improve the public’s understanding of money matters and restore consumer
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