The Money Advice Trust Three Year Plan

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James Lucas
5 years ago
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1 The Money Advice Trust Three Year Plan Helping more, more effectively

2 The Money Advice Trust Three Year Plan We outline here the broad nature of our plans for Given uncertainty in the debt advice sector, for the last few years we have conducted our planning on an annual basis. This year we decided it was time to return to a three year planning cycle, which enables us to think more long-term about how we meet the challenges of helping across the UK to tackle their debts and manage their money wisely. The central tenet of our plan is simple, though much of what lies behind it is complex. We want to help more, more effectively. This will require investment in new technologies, partnerships with new organisations, closer working with other debt advice charities to get maximum value from the resources available, and the gathering of more indepth insight into our and our clients. We are grateful to our funders and partners for their vital support for our work. CEO Chair

AIM ONE: Empower clients to tackle their debts and improve their financial health through National Debtline Streamline our Increase awareness Expand the routes into our earlier Serve through the

3 AIM ONE: Empower clients to tackle their debts and improve their financial health through National Debtline Streamline our Increase awareness Expand the routes into our earlier Serve through the right channel for them Create a seamless journey Gather better insight Reduce the cost per client Effect channel shift Remove duplication Strategic partnerships with Citizens Advice and others Increase referral mechanisms from organisations Target latent demand Launch new NDL website and explore mobile Introduce webchat and embed My Money Steps into NDL site Gather early feedback from clients Further optimise triage Use technology to serve more online Integrate our Implement Money Advice Service (MASe) quality assurance standard Use data from new CRM to drive service improvements. In-depth follow up on for clients More helped to tackle their debts and manage their money wisely 1.3m over 3 years 2.1m sessions over 3 years 90% satisfaction rate for clients across all Reduced cost per client by 25% over 3 years 67%/33% split of online/phone users Improved client data client

AIM TWO: Empower microbusinesses to tackle their debts and improve their financial health through Business Debtline Streamline our Increase awareness Be available in all administrations businesses

4 AIM TWO: Empower microbusinesses to tackle their debts and improve their financial health through Business Debtline Streamline our Increase awareness Be available in all administrations businesses earlier Improve client online experience Increase Gather better insight Reduce the cost per client Effect channel shift Reduce demand/capacity gap Increase referral mechanisms from organisations Complete and evaluate pilot of BDL in NI Engage new sectors Launch new BDL website Explore webchat for businesses Gather early feedback from clients Improve BDL website More efficient CRM Explore improved call back service Seek evaluation from respected business organisations Use data from new CRM to drive service improvements In-depth follow up on 184K served over 3 years 274K sessions over 3 years Following advice, 55% - 60% continue to trade 90% satisfaction rate for clients across all Reduced cost per client by 15% over 3 years Achieve 50%/50% online/phone split. Robust funding model for BDL Improved client data client

AIM THREE: Support free advisers across the UK to provide effective debt advice Streamline our Increase awareness Widen access to Wiseradviser Help advisers in more ways Expand Wiseradviser toolkit

5 AIM THREE: Support free advisers across the UK to provide effective debt advice Streamline our Increase awareness Widen access to Wiseradviser Help advisers in more ways Expand Wiseradviser toolkit Support advisers to use different Gather better insight Reduce cost per adviser Increase income to widen our reach Offer consistent with MASe s 3 year strategy. Improve online presence in each administration Offer to more charities Develop new resources for advice agencies Embed CFS, CASHflow, and self-help materials into Wiseradviser training Expand online course options Gather early feedback from advisers and agencies Deliver more online training Develop bespoke training packages for new and existing sectors Design in line with MASe s quality framework Evaluate and improve knowledge transfer results Use data to drive development of Achieve quality endorsement in each administration Proven, effective and consistent debt advice from a wider range of advice agencies 2m clients helped over 3 years Consistent training for advisers with 95% satisfaction rate One I&E form for UK improving sustainable repayments 60% /40% split of online/face-toface Avoid duplication Spread best practice to a wider audience Funders reassured that customers are being advised by effective advisers in a consistent way

AIM FOUR: Improve the UK s money and debt environment Streamline our Be an evidencebased thoughtleader transition between advice Gather the best insight from our Refresh Partnership Board Enhance

6 AIM FOUR: Improve the UK s money and debt environment Streamline our Be an evidencebased thoughtleader transition between advice Gather the best insight from our Refresh Partnership Board Enhance through insight Improve best practice Further widen funding net Understand what niche groups need Champion early intervention Forge evidence based policy alliances Further develop relationships with Creditors, DWP, FCA, HMT, and charities Use The Trust s funding model Expand triage through alliances, tools, support and funding Merge the two sector income and expenditure tools Fund innovative projects with niche groups Conduct specific research where needed Continue to share findings, best practice and materials from innovation grants Work in partnership with organisations to roll-out early intervention Be accountable to newly re-formed Partnership Board Sharing best practice on effectiveness across sector Quarterly report to funders with evidence-based Partnership Board to drive effective change in the debt advice sector A new model for effective delivery for debt advice, for both customers and creditors Evidence that creditor investment in our provides value for money and optimal return on investment Trust in our ability to deliver effective advice, training and efficient/lasting change for the sector

Fitness for Purpose Review of Health and Social Care Qualifications in Northern Ireland

+ Fitness for Purpose Review of Health and Social Care Qualifications in Northern Ireland November 2016 Contents Introduction 3 Background 3 Survey Methodology 4 Responses 5 Overview and Analysis of Responses