Peter Wyman Review of Debt Advice Funding published

The Peter_Wyman_Review_of_Debt_Advice_Funding_2018 has been published.

The wide-ranging review makes a number of recommendations, including the following which will be of interest to debt advisers:

  • Free-to-client providers should commit, as a whole, to shifting 15 per cent of face-to-face demand to telephone advice, and 20 per cent of telephone demand to webchat advice.
  • Free-to-client providers should commit to 20 per cent efficiency savings over the next two years.
  • The financial services levy should be temporarily increased by £10m per year to facilitate a goal of increasing debt advice supply from free-to-client providers by 50 per cent.
  • All authorised debt advisers should have a debt advice qualification before they can offer debt advice unassisted.
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