Our Role in Social Policy

Money Advisers’ Role

Money advisers are in a good position to get involved in social policy work because, not only do they have knowledge and experience of policy, legislation and practice relating to debt, but they also come into contact with the people who are experiencing debt and the effects of debt first-hand. They are, therefore, able to uncover instances of where legislation and procedures are problematic for their clients and to provide the necessary evidence of this to the appropriate body. Arguably, every client an adviser encounters might present a social policy issue but in order to ensure that social policy work is effective advisers should focus on what is achievable and proportionate.

Money advisers can use the IMA’s Social Policy Portal to tell us about a problem they have encountered and provide evidence. This information will be shared with Citizens Advice who will draw this evidence into their national campaigning work. Their current projects are detailed on the Campaigns page of their website.

IMA’s Role

One of the IMA objectives is to influence policy and practice relating to personal finance. The focus of IMA social policy work surrounds issues facing money advisers, in particular those which are directly related to the IMA’s functions, aims and principals, such as quality standards, best practice, adviser support, education of advisers and Debt Relief Orders.

We will ensure our members are aware of surveys and consultations requiring their feedback to help shape policy changes and developments.

Where appropriate, the IMA will support, promote and contribute to national campaigns to increase their impact and success.

We will channel information or evidence from our members to appropriate bodies in order to highlight issues they are facing and so that their voice is heard.

We will respond to relevant consultations, encourage our members to do so or facilitate a coordinated response from the membership where appropriate.