Raising the quality of money management support in the UK
People across the UK should be receiving good quality money guidance regardless of where they go to get it.
There are many thousands of practitioners delivering money guidance in the non-regulated space in one form or another. They range from volunteers, youth workers and housing officers who might only be doing it for a fraction of their time, to advisors who do it full time- and everyone in between.
Currently, there is no common view of what good money guidance looks like, many practitioners may not be aware of regulatory boundaries and there are very few opportunities for practitioners to access evidence about how to most effectively improve the money skills of the people they serve.
The Money and Pensions Service (previously the Money Advice Service, Pensions Wise and The Pensions Advisory Service) want to raise the status and profile of money guidance and the quality of its delivery. Their vision is that people across the UK will be consistently receiving good quality money guidance, leading to better outcomes.
To help achieve this, in 2018 MAS commissioned Pye Tait to develop a practitioner competency framework, linking to training and qualifications.
The content of the framework was informed by an extensive desk review to scope out broad statements of skills, knowledge and behaviours. The development of the framework was then guided by a Working Group of money guidance practitioners to test out and refine the content.
We are now seeking feedback on the draft competency framework:
You can provide your feedback via an online survey:
The deadline for responses is 28th June 2019.
Feedback via phone or face to face
We will also be running a series of face to face events where you can discuss the competency framework with other practitioners and feedback your views. Alternatively, you can feedback via a telephone interview.
Phone interviews: we can call you during working hours on any weekday until the end of June.
Events: we’re running events in the following locations throughout June/early July:
- Birmingham, Tuesday 4th June
- Leeds, Thursday 6th June
- London, Tuesday 11th June
- Glasgow, Monday 17th June
- Cardiff, Wednesday 26th June
- Belfast, Thursday 27th June
- Deeside (North Wales), 4th July
If you are interested in taking part in an event or interview, please sign-up here.