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Which? helpline proves hit with its members

A telephone money helpline has been launched to provide assistance on everything from tax and pensions to credit cards.

The consumer organisation Which? has introduced the service for its members, who can call the helpline every weekday, from 9am to 5pm, with no restriction on the number or length of calls made. One of a team of eight money experts, all with the same qualifications expected of authorised financial advisers, will then return the call and do their best to help.

"The difficult financial climate has highlighted the lack of places to go for truly independent, unbiased, free help and guidance on all aspects of personal finance, and we saw a need to fill this gap," says Which? chief executive Peter Vicary-Smith.

The helpline is already popular; more than 3,000 members have called during its test stage. The majority of members have concerns about their savings, the subject of at least 30 per cent of all calls. Investments attracted 15 per cent of calls.

"We are confident that every one of the people who have phoned the helpline has gone away more knowledgeable and more confident to deal with their money issues, whatever they may be," adds Mr Vicary-Smith.