About the Single Financial Guidance Body

The Single Financial Guidance Body (SFGB) creates one organisation from the three existing providers of government-sponsored financial guidance:

bringing together for the first time the provision of debt advice, money guidance and pensions guidance.

The SFGB is funded by levies on both the financial services industry and pension schemes. The new body is sponsored by the Department for Work and Pensions, but will also engage with HM Treasury, which is responsible for policy on financial capability and debt advice.

Sir Hector Sants

Sir Hector Sants - SFGB Chairman

The new organisation has a clear mission to help everyone manage their personal finances as well as their circumstances allow across the nation. We are creating an organisation which is seen as transparent, accountable, effective and above all respected by all, working hand-in-hand with the industry, our staff and our partners.

John Govett

John Govett - Chief Executive

A new single body provides an opportunity to deliver a more streamlined service to people, providing easier access to the information and guidance they need to help them make effective financial decisions throughout their lives.

Single Financial Guidance Body - The purpose

The new Single Financial Guidance Body (SFGB) has five core functions:

Pensions guidance
to provide information to the public on matters relating to workplace and personal pensions.
Money guidance
to provide information designed to enhance people's understanding and knowledge of financial matters and day-to-day money management skills.
Debt advice
to provide people in England with information and advice on debt.
Consumer protection
enabling the SFGB to work with Government and the Financial Conduct Authority (FCA) in protecting consumers.
Strategy
work with the financial services industry, devolved authorities and the public and voluntary sectors to develop a national strategy to improve people's financial capability, help them manage debt and provide financial education for children and young people.

All staff from the current three organisations have transferred to the SFGB organisation SFGB under the new Board and Leadership Team. This enables a continuity of service keeping it “business as usual” for consumers.

As 2019 progresses, a new name will be sought for the SFGB. A new outreach strategy will also be developed, which will include a new integrated service offer and enhanced partnership working with the wider industry, employers and key stakeholders.

The Board

Non-Executive Directors

Management Board