The government-backed Money and Pensions Service (MAPS) is to launch a 10 year plan to transform ‘national financial wellbeing’ for millions of consumers.

John Govett has resigned as chief executive of the new Money and Pensions Service, the government-backed single financial guidance agency, two months after it was officially launched.

The FCA is set to reduce its fees for advisers by 1.1% over the next year although overall costs for advisers could go up, according to its fee proposals published today.