TISA leads industry charge to make money matters more consumer friendly
6th November – TISA has launched an industry-wide project to help increase the nation’s personal financial health through a new approach to policy that has consumer interests at the heart of its proposals.
The project will create proposals for a new Savings and Investments Policy and seek to exert greater influence over the direction and future of financial services plus rebuild consumer confidence and trust. Its findings, conclusions and recommendations will be used to work with government, key political parties and regulators to present a consistent industry view.
TISA’s research indicates that the UK is heading towards a future where a lack of savings and over-reliance on the State is likely to result in significant disappointment and hardship. The project will therefore focus on researching the root causes of Britain’s current low levels of savings and the short, medium and long term impacts this is having on society. The findings will underpin strategic proposals on savings that are planned for September 2014.
Tony Vine-Lott, Director General of TISA says: “This is a unique opportunity for the industry to combine its knowledge of consumers and experience of financial services to create proposals that deliver increased financial security for society.”
Tony Stenning, Chairman of the Executive Committee and Head of UK Retail at BlackRock says: “British savers are worried for their financial futures. It is therefore critical that we unite as an industry to help simplify saving and investing and encourage people to boost their rainy day and retirement savings for the longer lives we’re all living.”
The project will seek to work with a wide range of financial service companies, trade bodies and consumer groups to develop pan-industry proposals. It will be directed by an Executive Committee formed of 20 leading financial services companies. It currently includes Aviva, AXA Wealth, BNY Mellon, Barclays, BlackRock, Charles Stanley, Citi, Fidelity, J.P. Morgan Asset Management, Henderson, Intrinsic, L&G, Lloyds, Nationwide, Northern Trust, Old Mutual, Pinsent Masons, Simply Biz, Threadneedle Investments and Zurich.
Please visit the TISA website, www.tisa.uk.com for further details about the project.
For further information, please contact:Tony Vine-Lott, Director General, TISA – Mobile: 07790 006108Email: tonyvine-lott@tisa.uk.com
Carol Knight, Operations Director, TISA – Tel: 01642 666989, Mobile: 07967 317003 Email: carol.knight@tisa.uk.com
Issued on behalf of TISA by Cauldron Consulting, contact Steve Radford – Tel: 020 7680 6568, Mobile: 07889 903786 Email: steve.radford@cauldron-consulting.com
Notes for Editors
TISA
TISA is a not-for-profit membership association operating within the financial services industry. We represent the interests of over 145 member firms involved in the supply and distribution of savings and investment products and services.
TISA has a highly successful track record in working cooperatively with government, regulators, HMT, DWP and HMRC to improve the performance of the industry and the outcomes for consumers. Policy and regulation continues to be the major focus for our members with regard to corporate responsibility.
TISA and its members’ remit is evolving into a clearer focus on pro-active consultation in the regulatory world in order to influence policy and associated regulation before its creation, rather than reacting to issued policy directives. This will help to ensure a more considered policy creation from the authorities.