1. Towards Effective, Innovative and Sustainable Money Advice
Joanna Elson
Chief Executive,
Money Advice Trust
20 July 2011
Helping people across the UK to tackle their debts and manage
their money wisely

2. Improving the debt and credit environment
MAT takes three roles in the provision of money advice…
Improving the debt and credit environment
giving advice
supporting advisers
1.Who are we and why should you listen to me
I am Joanna Elson, Chief Executive of the Money Advice Trust
We have a triple role in the provision of good quality, free and independent money: we give advice; we support advisers; and we facillitate creditors, government and advice sector partners to improve the credit and debt environment
We were founded in the midst of the last recession in 1991: we have a long view on the provision of money advice and we are proud of significant achievements that have taken place in that time

3. Money advice works:
For people in debt: improved knowledge and confidence in managing money
(83% National Debtline clients)
For society: repossessions prevented at cost of £16000 per household
(estimate: Department for Communities and Local Govt)
For everyone: fewer doctor and hospital appointments needed (40% National Debtline clients)
This demonstrates that money advice works
MAT recently published our first impact report some key figures; we are confident that this is also true for the sector as a whole
and moreover it delivers wider benefits to individuals and society
Repossessions prevented at cost (CLG estimate) £16k per household
Doctors appointments not needed (40% of NDL clients report fewer doctors and hospital visits as result of seeking advice)

4. Household debt will rise to £2.1 trillion or £84,000 per
household by 2015
Office of Budget Responsibility
revising upwards their forecasts,
April 2011

5. Problem debt affects around 5 million people across the UK
Dr John Gathergood,
Nottingham University
2010

7. Challenges and Solutions: 1
Demand
Optimal channel strategy

8. Challenges and Solutions: 2
Effective, innovative and sustainable free services
Poor practice

9. Challenges and Solutions: 3
Money advice beyond traditional settings
Infrastructure changes
Reduced funding

10. Effective, innovative and sustainable money advice
Needs of the client
Effective, innovative and sustainable money advice
Cost
Effectiveness
4. New innovations to deliver good quality, free-to-client and independent services
My money steps, live web chat,
Some people will always need face-to-face
Channels strategy and triage
Well placed to deliver locally based but UK wide services providing effective and sustainable advice in the future

11. Locally based but UK wide services providing effective and sustainable advice.....

12. ‘Good advice is worth every penny we can possibly spend on it’
Baroness Wilcox
Under Secretary of State
House of Lords
3 May 2011