Raising the quality of money management support in the UK

People across the UK should be receiving good quality money guidance and help regardless of where they go to get it. However, currently there is no common view on what good looks like and no definition of minimum standards.

There are at least 100,000 practitioners that range from volunteers, community workers and general advisors who may be helping people with money management for a fraction of their time, right the way through to people who provide this help all day, every day. So how can we help them to provide the best possible support for the people they serve?

The Money Advice Service (MAS) (now part of the SFGB) want to know that people are receiving quality money support, and to help the sector attract, retain and develop practitioners; giving money guidance and support the attention and importance that it deserves.

To help achieve this aim, MAS has commissioned Pye Tait to develop a practitioner competency framework, linking to training and qualifications. It will be developed in collaboration with the financial capability community and with credible, reputable partners.

Going forward, the competency framework is intended to provide practitioners and their organisations access to quality resources, training, evidence and insights that they can easily access and use to implement positive change in programmes and services in the short and long term.

How the work is being conducted

MAS has appointed Pye Tait Consulting to independently carry out the research and design of the framework.

The research and design will be conducted in 3 phases:

  1. An extensive desk review to scope out broad statements of skills, knowledge and behaviours;
  2. Face to face development activity with a working group to test out and refine both the competencies and the framework; and
  3. UK-wide consultation on the draft framework via events, interviews and an online survey whereby practitioners will be able to feedback their views of the draft framework.

How to take part

The UK-wide consultation on the draft framework will take place between March and June 2019.

Please complete your details below if you would like to be kept up to date on opportunities to participate in the consultation, or if you have any questions.

For more information on the wider programme please visit https://www.fincap.org.uk/en/articles/financial-capability-practitioners.