Money GuidersDeveloping skills. Sharing understanding. Improving lives.

Welcome,

Money touches every aspect of our lives. Money guidance is often given as part of wider services provided by thousands of diverse organisations and practitioners.

If you deliver money guidance our programme is here to help.

Who is the Money Guiders programme for?

  • anyone who provides any type of non-regulated money guidance to individuals or groups
  • based anywhere in the UK, in all four nations – national coverage through to small and local groups
  • community workers, housing officers, mental health workers, volunteers, money mentors to name a few
  • those working with young adults through to older and retired people.

Become a Partner in our programme

Partners can benefit from exclusive access to free e-learning, a Money Guiders award and a network of learning communities in our 20/21 pilot phase

find out more
 

We have created a competency framework for Money Guiders

The Money Guidance Competency Framework sets out the core competencies every Money Guider needs so they can provide a safe, quality service for customers. It is designed for anyone who provides any type of money guidance whatever their sector or job role.

 

Foundations

All Money Guiders need the foundation competencies.

Skills and behaviours

Behaviours and personal characteristics.

a. Personal qualities and attributes

These qualities are at the core of the competency framework. The breadth and complexity of information and guidance on money management and financial wellbeing mean that practitioners need to draw deeply upon their personal qualities to handle the demands of the role. Find out more here

b. Transferable skills

Strong transferable skills are fundamental to the provision of impartial guidance on money management and financial wellbeing. This includes working well with others - including colleagues and other agencies - as well as correctly using the appropriate organisational systems and procedures, keeping accurate records and attention to detail. Practitioners should also have good levels of literacy and numeracy to communicate what can often be complex information in a straightforward and understandable way. Find out more here

c. Self-management

This domain is about maintaining adequate knowledge and skills to deliver a good service and, in some cases, developing knowledge and skills in order to provide guidance at a higher tier. This may mean keeping up to date on financial matters, for example, updates to legislation and regulations and key organisations which is important for ensuring that practitioners are giving accurate and up to date information, and for knowing where to signpost customers. In addition, it may involve self-reflection, gaining knowledge or improving skills. Practitioners may develop their practice using either formal and/or informal methods. Find out more here

Knowledge and compliance

Boundaries and regulations.

d. The boundaries of the service and of your role

Every practitioner must be aware of what they can and cannot say to customers, depending on the organisation he or she works for, and depending on the type of advice and guidance being given. Find out more here

e. Signposting customers

All practitioners - no matter their job role - must be able to elicit simple, factual information from the customer in order to signpost them to appropriate sources of further support, advice or information. Find out more here

f. Compliance and safeguarding

This domain is about working legally and safely. This means working in compliance with the relevant regulations, legislation and organisational procedures that govern confidentiality and data protection, as well as those that protect the rights of customers. Practitioners must also work safely to protect themselves and others from any physical risk or hazards. Find out more here

Technical domains

Money Guiders choose the technical domains that relate to their role.

Technical domains

12 money domains, tiered according to complexity.

1. Knowing your customer

This domain is about understanding who the customer is and their needs – which they may or may not be aware of – and draws on many of the cross-cutting behaviours and skills that underpin practice. It requires the practitioner to develop an understanding of their customers, including background, circumstances, expectations and goals. The domain is set out over Tiers 1 and 2. Find out more here

2. Debt

This domain is about issues relating to debt, including: common types of debt e.g. credit cards, loans, council tax/rates etc; priority and non-priority debts; loans from illegal or dubious sources; sources of support; scams. The domain comprises Tier 1 only. It is important that you are aware of where the regulated boundaries are and do not go beyond them. Find out more here

3. Borrowing

This domain is about issues relating to borrowing, including: the main sources of credit and lending; illegal and informal money lending; secured and unsecured borrowing; the costs of borrowing; credit scores and credit history; buying a home; scams. The domain is set out over Tiers 1 and 2. It is important that you are aware of where the regulated boundaries are and do not go beyond them. Find out more here

4. Welfare and benefits

This domain is about issues relating to welfare and benefits, including: the main benefits that are available; applying for benefits; the main eligibility criteria; benefit problems; how means testing affects benefits; sources of support; Universal Credit; disputing benefits decisions; scams. The domain is set out over Tiers 1 and 2. Find out more here

5. Budgeting and cashflow

This domain is about issues relating to budgeting and cashflow, including: budgeting; household outgoings; increasing income; bank accounts; digital payments; using fin-tech; sources of support; scams; fraud and identity theft. The domain is set out over Tiers 1, 2 and 3. Find out more here

6. Savings

This domain is about issues relating to savings, including; benefits of saving; developing a savings habit; affordability of saving; types of interest; maximising savings; different types of savings products; sources of support; scams; Personal Savings Allowance. The domain is set out over Tiers 1 and 2. It is important that you are aware of where the regulated boundaries are and do not go beyond them. Find out more here

7. Investments

This domain is about issues relating to investments, including: risk versus reward; different types of investment product; trader funds; shares; investment charges; sources of detailed information; scams; Independent Financial Advisers. The domain is set out over Tiers 1, 2 and 3. It is important that you are aware of where the regulated boundaries are and do not go beyond them. Find out more here

8. Taxation

This domain is about issues relating to taxation, including: communicating with HMRC; income tax; tax bands and personal allowances; capital gains tax, inheritance tax; stamp duty; employment and self-employment; sources of support; scams. This domain is set out over Tiers 1, 2 and 3. Find out more here

9. Insurance

This domain is about issues relating to insurance, including: the purpose of insurance; types of insurance products; protection insurance; purchasing insurance; risk factors that affect insurance; insurance claims; shopping around; sources of support; scams; making complaints. This domain is set out over Tiers 1 and 2. It is important that you are aware of where the regulated boundaries are and do not go beyond them. Find out more here

10. Households

This domain is about issues relating to households, including: renting or buying a home; household bills; social and private housing; tenancy agreements; tenants and landlord’s rights and responsibilities; grants to aid improvements and cover moving costs; mortgages; rent/mortgage payments; sources of supports; scams. The domain is set out over Tiers 1, 2 and 3. Find out more here

11. Pensions

This domain is about issues relating to pensions, including: retirement planning; different types of pension; auto-enrolment; the State Pension; pension statements; pensions law; sources of support; sources of detailed information; scams. The domain is set out over Tiers 1, 2 and 3. It is important that you are aware of where the regulated boundaries are and do not go beyond them. Find out more here

12. Planning for later life

This domain is about issues relating to planning for later life, including: wills; trusts; pre-paid funeral plans; funeral costs; support for carers; care costs; Power of Attorney; intestacy; probate; sources of support; scams. The domain is set out over Tiers 1, 2 and 3. It is important that you are aware of where the regulated boundaries are and do not go beyond them. Find out more here

If you have a question, would like to give feedback or would like to have updates on this programme please contact us.

Contact us  

Ways to use the competency framework

Here are some practical ways you can put the competency framework into action. Chose if you are an individual practitioner or represent an organisation.

I am a Money Guider

My organisation provides money guidance

 

An individual who delivers money guidance as part of their role

Money guidance is likely to form part of your wider role - for example within a community organisation, housing association, mental health services, as a money mentor to name a few.

The people you support are likely to be seeking advice about a life event, may be vulnerable or have complex needs.

You can use the competency framework in a range of ways to support peer-to-peer discussions, self-reflection, career planning and as part of an in-depth review. We’ve created a four-step process and a downloadable self-development tool to help you map the money guidance you deliver and identify areas for development. It can be used flexibly to meet your needs and revisited over time.

Find out more

 

As part of our service we employ or manage Money Guiders.

Money guidance is likely to form part the service your organisation provides – for example you employ community workers, housing officers, mental health workers to name a few, or manage volunteers or staff who act as money mentors.

The people your staff support are likely to be seeking advice about a life event, may be vulnerable or have complex needs. Money guidance is part of their broader roles and part of your wider but interconnected and holistic service.

You can use the competency framework to review the money guidance your organisation provides. As a leader, training co-ordinator or HR manager for example, you can use the competency framework to support peer-to-peer discussions, self-reflection, to inform HR processes and as part of an in-depth review. We’ve created a four-step process and a downloadable self-development tool to help you map the money guidance your service delivers and identify areas for development. It can be used flexibly to meet your needs and revisited over time.

Find out more

 

Frequently asked questions

The most frequently asked questions about Money Guiders Programme

Read all the questions here

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