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 moreWe 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 usWays 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.
Frequently asked questions
The most frequently asked questions about Money Guiders Programme