[INSIGHTS]: Money Advice Trust – Outcome report 2022

Summary of the outcomes report for 2022: link

Summary

The Money Advice Trust’s Outcomes Report 2022 highlights the organization’s work in helping people across the UK manage their debts and finances with confidence. The Trust provides free advice services to training for advisers and creditors, making a real difference in the lives of those in financial difficulty.

Key Points

  • The Money Advice Trust helps people to find their next steps in managing their financial situation.
  • The Trust’s approach, through tailored advice, drawing on a range of tools and the support of specialist advisers, gives people the confidence to take action and manage their situation.
  • The Trust’s impact is built on its expertise, built up over the last 30 years, to help people in financial difficulty take the next steps to deal with their situation.
  • The Trust provides free training and resources to the free-to-client advice sector in England and Wales and works in partnership with Advice NI in Northern Ireland.
  • In 2022, the Trust provided 15,170 training places to 7,460 advisers in 2,780 free-to-client agencies in the UK.
  • 96% of callers followed all or some of the Trust’s advice.
  • 94% of callers are clear on their next steps.
  • 93% of webchat users are clear on their next steps.
  • 9 in 10 callers know which debts to prioritise.
  • 9 in 10 advisers were helped to improve outcomes for their clients.
  • 9 in 10 advisers were helped to meet or exceed clients’ expectations.
  • 97% of advisers said the Trust’s training helped them to do their job.

Key Statistics

  • 96% of callers followed all or some of the Trust’s advice.
  • 94% of callers are clear on their next steps.
  • 93% of webchat users are clear on their next steps.
  • 97% of advisers said the Trust’s training helped them to do their job.
  • 9 in 10 advisers were helped to improve outcomes for their clients.
See also  [INSIGHTS]: Mixed messages - Why creditor communications to people in financial difficulty need to offer a clearer, better route to help

Key Take Aways

  • The Money Advice Trust provides free advice services to help people manage their debts and finances with confidence.
  • The Trust’s tailored advice, drawing on a range of tools and the support of specialist advisers, gives people the confidence to take action and manage their situation.
  • The Trust’s expertise, built up over the last 30 years, helps people in financial difficulty take the next steps to deal with their situation.
  • The Trust provides free training and resources to the free-to-client advice sector in England and Wales and works in partnership with Advice NI in Northern Ireland.
  • The Trust’s training program has helped 97% of advisers to do their job better.
  • The Trust’s approach has helped 9 in 10 advisers to improve outcomes for their clients and meet or exceed clients’ expectations.
  • The Trust’s advice has helped 96% of callers to follow all or some of the advice given.
  • The Trust’s advice has helped 94% of callers to be clear on their next steps.
  • The Trust’s advice has helped 93% of webchat users to be clear on their next steps.
  • The Trust’s approach has helped 9 in 10 callers to know which debts to prioritise.
  • The Trust’s Collision Course and Impossible Choices reports have tracked the impact of the crisis on household and small business finances and shared direct insight from their services to inform the response from regulators and creditors.
  • The Trust has secured strong action from the Advertising Standards Authority and Google to tackle misleading debt advice adverts.
  • The Trust has continued to make the case for much-needed changes to the insolvency framework in England and Wales, including through the Insolvency Service’s dedicated review.
See also  [INSIGHTS]: Customer Experience Excellence Report UK 2023/24

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