Social Policy for Money Advisers

Social policy in the context of money advice is about influencing and improving policy, practice or legislation relating to debt advice and personal finance which adversely affect people in debt. These might be related to consumer credit, banking, finance, debt collection, the courts, welfare benefits, tax credits, housing or employment.

Types of social policy action

• bringing issues to the attention of policymakers in government, local authorities, ombudsmen, public bodies, trade bodies, financial institutions and regulators
• responding to consultation documents
• lobbying MPs or presenting an e-petition for a House of Commons debate
• publicising the issue in the national or local media or social media to gather momentum, evidence or support for a campaign
• providing evidence and/or support to an existing campaign

One of the IMA’s aims is to influence policy and practice relating to personal finance. IMA social policy work focuses on issues facing money advisers, in particular those directly related to aims and mission, such as quality standards,  good practice, adviser support and education.

The IMA Social Policy Bulletin Board will provide IMA members with details of social policy updates, calls for evidence and consultations.