The Money Advice Service have announced that Recognising Excellence has been awarded the contract to administer its Peer Review Scheme.
The Peer Review Scheme which was developed in collaboration with the debt sector, will entail specialist debt advisers assessing the work of other advisers and making suggestions for continuous improvement and development. These will be captured in an action plan for organisations being assessed to implement in order to raise the quality of advice given to debt clients. Themes, areas of good practice and common challenges will be captured throughout the delivery of the scheme and will be shared widely with the sector.
Recognising Excellence will begin the process of recruiting a pool of specialist debt advisers to carry out peer reviews from May. This will be followed by training sessions which will commence in the summer.
The first reviews are due to take place from September and will be rolled out to organisations funded by the Money Advice Service in England and Wales in the first instance. The aim is to roll this out more widely across the debt sector over the coming year.
The design of the Peer Review Scheme followed collaboration with key debt sector organisations. This included workshops in Summer 2014 and written responses from key stakeholders in Autumn 2014. The Scheme was published in January 2015. This document can be found at: https://www.moneyadviceservice.org.uk/en/corporate/raising-standards
Lesley Robinson, UK Debt Advice Director for the Money Advice Service, has provided the following comment:
"We are pleased to be working with Recognising Excellence to deliver the Peer Review Scheme. Their expertise in driving high standards will enable us to identify and spread best practice as well as looking at areas for development.
“We know how effective debt advice can be in helping people to get to grips with their debt. And this scheme will provide long term benefits for individual advisers, advice organisations and most importantly for over-indebted people who access advice services.”