FSA Co-Hosts Financial Capability Conference

by Philip Morton, Investors Offshore.com

20 October 2006

Economic Secretary to the Treasury, Ed Balls, and John Tiner, Financial Services Authority (FSA) Chief Executive, on Wednesday hosted the first ever UK National Conference on Financial Capability.

The conference showcased progress on the UK's financial capability agenda, promoted the work of the FSA and its partners in the industry, Government and the voluntary sector; and raised awareness of financial capability and the need to build on existing activity.

Opening the Conference, the Economic Secretary outlined the Government's intention to publish a ten-year strategy for Financial Capability in the autumn:

"I believe our first task as Government is to set out our long-term goals and ensure that they meet the scale of the challenge we have all identified. One area I am keen to explore is how we can widen access to unregulated or generic financial advice to help people manage and plan their finances," he announced.

The strategy will set out the Government's long-term goals for improving levels of Financial Capability, and will also explore options for how access to affordable, high quality generic advice might be increased.

The conference brought together key stakeholders across Government and the private and third sectors.

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