Coaching for financial capability

"Give a man a fish and you feed him for a day. Teach a man to fish and your feed him for a lifetime" is basic to Fair Mony's view of the world, because we are looking for long term sustainable improvements.

Years of experience have taught us that expecting people to make potentially life-changing decisions without the capability to do so is unethical and in the end unworkable. Furthermore, simply giving people advice does not increase their ability to make decisions that support their own individual aims and circumstances.

Only when individuals have the motivation, confidence and skills to make real choices will they feel in control and be capable of taking sound, positive action to improve their situation. This is particularly pronounced when vulnerable people are dealing with their financial circumstances and are not able to consider the full context in which they are making their decisions or the results of making them.

Fair Money offers full, long-term support to people and organisations who believe that current systems do not work as effectively as they might, and who are serious about wanting to make a difference for their customers and clients.

Fair Money trains and supervises coaches to help people towards better financial decisions. Our aim is to provide a national service of consistently high quality so that independent support is available for anyone with difficult financial decisions to make.

Fair Money is in constant discussion with the regulator to work out what evidence can or should be used to demonstrate that an individual is able to make good financial decisions.

How is this achieved?

We work in cooperation with organisations who sponsor their people on the Fair Money Coaching Scheme, and we provide, over a period of a year, ongoing and continuous support through a Training and Competence Scheme in line with that laid down by the Financial Services Authority and comprising

Day to day support
Ongoing training
Training peer group meetings
IT support
Assessment
Qualifications

This is based on an initial intensive two week training programme based on the knowledge requirements of The Generic Financial Advice Occupational Standards and what we believe to be the best financial services coaching training available in the UK.

For the organisations who sponsor their people on the Fair Money Coaching Scheme we provide

Workshops
Peer group meetings
Management reports