The replacement for the Money Advice Service will drop the word advice from its name, the organisation’s chief executive believes.

The new financial guidance body set to replace The Money Advice Service must put consumers directly in touch with qualified advisers, a pensions firm says.

The Government has confirmed its plans to create a single consumer financial guidance body to replace the Money Advice Service, The Pensions Advisory Service and Pension Wise.

Money Advice Service chief executive Caroline Rookes will exit next April after four ‘roller-coaster’ years.