LETTER TO STAKEHOLDERS
I wanted you to know that after four roller-coaster but enjoyable years as Chief Executive at Money Advice Service, I have decided to retire next April.
My plan was to leave after my initial three-yearterm concluded in February 2016. However, with such a critical debate developing at that time around the future of money guidance I decided it was right to stay on to help shape that thinking.
Getting the next step right for the interlinked areas of debt and money guidance, and pressing the urgent need to address stubbornly low levels of financial capability is essential. I wastherefore delighted to see the Government announcement following consultation that there will be one guidance body rather than the two originally proposed.
I have been encouraged that the arguments for the critical role in improving financial education, capability and resilience have been recognised. I thinkthis is the right time to pass on the reins to someone else to build on the achievements to date and lead MAS through the transition period. I plan to remain at MAS until next April to ensure a smooth transition, and the Board fully support my plans.
As a valued stakeholder I wanted you to hear the news directly from me as soon as possible.
I have been fortunate in working with a strong and determined leadership team and Board, and together we will all continue to set out to the Government our clear views on the structure and scope of the successor body.
The Money Advice Service delivers critical work at the leading edge of money guidance. During my time as Chief Executive I am particularly proud that we have made significant strides forward.
We have encouraged greater emphasis on insight and evidence-based interventions, we have delivered ground-breaking research most recently on attitudes to savings we have demonstrated a firm commitment to build relationships and develop collaborative working, we have developed,launched and led delivery of a collaborative Financial Capability Strategy which will improve consumer capability resilience and confidence and we have helped many millions of people.
Later this year we will be consulting with you on our ambitious and innovative business plan. I am leading the development of this work and look forward to continuing to work with you.
Thank you for your continued support.
CR