The Resolution Foundation's first project was to explore how low earners accessed financial advice.
Following a period of detailed research and consultation, we published proposals for a new national service to provide generic financial advice, targeted at people in this income group, and conducted an extensive lobbying campaign on this issue throughout 2006.
This work culminated in the announcement by the Treasury of a review, led by Chief Executive of AEGON UK, Otto Thoresen, to determine how such a service should be established. The Thoresen Review's final report in March 2008 recommended a pathfinder of a new Money Guidance service be created to test some of the details of implementation.
Whilst our research is now focusing on the issue of long term care for older people, the Foundation is taking a keen interest in the progress of the Money Guidance service path finder, and we intend to remain engaged in the debate regarding generic financial advice and financial capability more widely.
To this end, the Foundation has established the Financial Health Forum. The Forum is an independent body of experts which aims to progress thinking and practice on issues relating to the population’s financial health. The Resolution Foundation will provide a secretariat to the Forum, which will:
- Provide a strategic overview across financial inclusion and financial capability
- Identify gaps and overlaps that could contribute to improved delivery of financial health Make links with developments in the financial services industry
- Consider consumer awareness of financial health related issues
Members of the Forum will meet three times a year. At each meeting members will discuss financial health-related developments, and invited guest speakers will present on specific issues of interest.
The FHF's first meeting was held on 8 October 2008.
Download meeting summary
Download press release
If you have a question about the Financial Health Forum, please contact the Forum’s co-ordinator at helen.aynsley@resolutionfoundation.org. |
