Money Advice Service announces administrator for peer review scheme

Wednesday 6 May 2015

The Money Advice Service have announced that Recognising Excellence has been awarded the contract to administer its Peer Review Scheme.

The Peer Review Scheme which was developed in collaboration with the debt sector, will entail specialist debt advisers assessing the work of other advisers and making suggestions for continuous improvement and development. These will be captured in an action plan for organisations being assessed to implement in order to raise the quality of advice given to debt clients. Themes, areas of good practice and common challenges will be captured throughout the delivery of the scheme and will be shared widely with the sector.

Recognising Excellence will begin the process of recruiting a pool of specialist debt advisers to carry out peer reviews from May. This will be followed by training sessions which will commence in the summer.

The first reviews are due to take place from September and will be rolled out to organisations funded by the Money Advice Service in England and Wales in the first instance. The aim is to roll this out more widely across the debt sector over the coming year.

The design of the Peer Review scheme followed collaboration with key debt sector organisations. This included workshops in Summer 2014 and written responses from key stakeholders in Autumn 2014. The Scheme was published in January 2015. This document can be found at https://www.moneyadviceservice.org.uk/en/corporate/raising-standards

Lesley Robinson, UK Debt Advice Director for the Money Advice Service, has provided the following comment:

“We are pleased to be working with Recognising Excellence to deliver the peer review scheme. Their expertise in driving high standards will enable us to identify and spread best practice as well as looking at areas for development.

“We know how effective debt advice can be in helping people to get to grips with their debt. And this scheme will provide long term benefits for individual advisers, advice organisations and most importantly for over-indebted people who access advice services.”

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For more information or to arrange an interview with a Money Advice Service spokesperson, please contact Pressoffice@moneyadviceservice.org.uk

About the Money Advice Service

The Money Advice Service is an independent organisation. It gives free, unbiased money advice online at moneyadviceservice.org.uk, over the phone on 0300 500 5000, and face-to-face right across the UK. The Service was set up by Government and is paid for by a statutory levy on the financial services industry, raised through the Financial Conduct Authority. Its statutory objectives are to enhance the understanding and knowledge of members of the public about financial matters (including the UK financial system); and to enhance the ability of members of the public to manage their own financial affairs.