Money Advice Service

House of Lords written question – answered on 21st November 2011.

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Photo of Baroness McDonagh Baroness McDonagh Labour

To ask Her Majesty's Government what market research and analysis of consumer demand was conducted during business planning in advance of the launch of the Money Advice Service; whether demand has been above or below expectations; and whether the Service has been supported with sufficient marketing and promotion.

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury

The independent Thoresen Review in 2008 estimated demand for a national Money Advice Service, which led to principles behind the service. An evaluation of the pilot, including consumer demand, is available on the Money Advice Service's website: www.moneyadviceservice.org.uk.

The Money Advice Service became nationwide in April 2011 and launched an integrated marketing campaign in June 2011. The service has so far received over 2.7 million visits to its website and over 270,000 visits to the online health check, meaning it is on course to meet its target of achieving 500,000 health check visits by the end of the financial year.

This year, the Money Advice Service has reviewed its products, services and delivery channels, including conducting further analysis and research into consumer demand. It is now seeking to improve what it offers to consumers, making sure that it delivers more to more people. It will continue to offer everyone access to the service online, by telephone, or face-to-face through a national network. These plans include appropriate resources for marketing and promotion to raise awareness of the service and drive usage of its products and services.

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