Published by: The Money and Pensions Service Search for original: Link
Key Take Aways
The MaPS Standards have been approved by the FCA, reflecting a significant milestone in regulating consumer-facing financial guidance services. These standards are designed to ensure high-quality, consistent delivery of information, advice, and guidance, especially for consumers in vulnerable circumstances. They emphasise designing accessible, inclusive services that actively involve consumers and consider their specific needs from inception. A channel-agnostic approach is central, meaning standards apply across face-to-face, digital, telephony, and community-based channels. The standards prioritise delivering tailored, impartial guidance that enables consumers to make informed decisions without selling or facilitating financial products. There is a strong focus on supporting consumers in vulnerable circumstances through proactive identification, tailored support, and signposting to specialist ser...
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