The replacement for the Money Advice Service will drop the word advice from its name, the organisation’s chief executive believes.

Caroline Rookes told Financial Planning Today that using the word advice in the name had stirred antipathy among the financial adviser community from the start.

A single organisation will replace MAS, The Pensions Advisory Service and Pension Wise.

The aim is to have a new merged organisation in place after autumn 2018. MAS, TPAS and Pension Wise will continue to run until the new body is launched.

Ms Rookes told Financial Planning Today: “They’ll change the name because the name has caused a lot of problems, not least with financial advisers who thought from the outset that we would be providing regulated advice, which we don’t. So I think they’ll almost certainly change the name of it.

“It’s not going to be my decision but my assumption is that they will think of a name without advice in because it has caused problems. What it will be called I don’t know.”

She noted that the PFS had suggested some time ago that it should change name.

Ms Rookes, who is retiring and leaving the organisation in April, said: “At the end of the day I don’t think the man in the street really cares (what the name is).

“They just need to know where to go. If the start of their journey (for financial help) is this new guidance body, but it makes it clear what it can do and when people should move onto other things (such as seeing an adviser), to me that’s deal.”

She wants it to enable the consumer to get their questions answered, either directly or for them be steered towards the right people or organisation that can.

The new body will deliver guidance on pensions, money and debt advice.

A consultation document published in December set out plans for the remit of MAS, TPAS and Pension Wise. Ms Rookes said, however, it was not clear who will own the new body - the DWP or Treasury.

The consultation ends on 13 February.