1. The Financial Capability Strategy for the UK
8 November 2017

2. Financial education is clearly on this side of the slide …!
A “wicked” problem
“Tame” problem v “Wicked” problem
(Rittel and Webber, 1973)
Clear formulation
Clear whether a solution is reached
Similar problems exist elsewhere, and they have been solved
You know when you can stop
Boundaries exist
Even creating a formulation is challenging and controversial
Only “better” or “worse” solutions
Each problem is unique
Starting and stopping both controversial
Solving one aspect of the problem may create new problems
Financial education is clearly on this side of the slide …!
14 June 2017

3. 4. Continuous communication 3. Mutually reinforcing activities
Collective impact approach to the problem
1. Common Agenda / Goals
2. Shared measurement
4. Continuous communication
3. Mutually reinforcing activities
5. Backbone
organisation
Adapted from the Guide to Evaluating Collective Impact:

4. 5 key elements of Collective Impact
1. Common Agenda / Goals
A strategy document and thematic plans
A behavioural model
A three-yearly survey of 5,000 people in the UK
2. Shared Measurements
“Six dials”
A customer segmentation model
3. Mutually Reinforcing Activities
Evaluation support and toolkit
What Works Fund
Board and steering groups
4. Continuous Communication
Annual Financial Capability “Week”
B2B website
5. Backbone organisation
Money Advice Service
Strategy (to be) set into UK law

5. Elements with noteworthy impact (1)
A behavioural model
Needs to be applied to each: 1) age group
2) circumstance: - Managing money day to day - Planning ahead - Dealing with difficulties
For more information download the Strategy at

6. The What Works Fund: £7m to fund evidence
Elements with noteworthy impact (2)
The What Works Fund: £7m to fund evidence
409 organisations
95 shortlisted projects
65 grants awarded
For more information see 6
Presentation Title