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The Money Advice Service design a new target operating model for debt sector

New target operating model for debt sector

Wednesday 5 December 2018

The Debt Advice Steering Group (DASG) requested an independent review of debt advice funding, which was undertaken by Peter Wyman CBE between July 2017 and January 2018. Having considered its findings, the DASG gave its support to the review in April 2018 and agreed to prioritise the following:

  • increasing capacity in the sector by 50%
  • broadening the base of organisations who contribute to funding
  • measures which ensure high-quality advice
  • increasing investment of the debt advice levy in coordination, infrastructure and technology
  • increasing collaboration in the sector.

Also in April 2018, the DASG invited The Money Advice Service (MAS) to design a new target operating model for the debt advice sector, which would be the mechanism through which the Wyman Review would be delivered. MAS worked with stakeholders and undertook consumer research to build the new target operating model and it was supported by the DASG in July. It aims is to build an ambitious future operating system that enables better customer journeys through debt advice, enhanced routing to sources of support, greater collaboration between agencies, increased consistency in advice giving and enhanced data gathering and sharing.

The objectives for the target operating model are as follows:

  • to help more people as early as possible through an efficient, effective client journey
  • to understand impact and foster improvement at all stages of the client journey
  • to develop and implement a sustainable funding model that incentivises the best possible client outcomes and encourages collaboration across advice providers
  • to build improvements in quality, consistency and client experience into all aspects of advice agency and creditor practice
  • to build debt advice as an appealing, aspirational profession.

MAS is currently building detailed project plans for delivering the target operating model and will seek to work closely with the debt advice sector in making the work a success. Ownership for the work transfers to the Single Financial Guidance Body in January 2019.