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The Comprehensive Competency Framework sets out clear expectations for the knowledge, skills, behaviours and attributes required in a range of financial capability roles, from community enablers and financial mentors to educators and trainers. Developed by the Fin-Ed Centre in consultation with the sector, it’s a major step towards a new Level 6 Professional Certificate in Financial Capability Practice, currently in development.

Dr Pushpa Wood, Director of the Fin-Ed Centre, says the framework responds to the growing demand for high-quality, culturally responsive services in the financial capability space — particularly in community settings where people often turn for help navigating financial challenges.

“This framework is about lifting the consistency and credibility of financial capability support — not just in one-to-one mentoring, but across all roles in the sector. It gives practitioners a clear pathway for development, and it helps organisations build, recruit and support a skilled and trusted workforce,” says Dr Wood.

While FinCap’s Te Tāpapa Framework provides detailed guidance for financial mentors, this new model takes a broader view. It aims to unify the sector under a shared set of competencies that reflect the diverse and evolving needs of New Zealanders.

“What sets this apart is its inclusiveness. Whether you’re facilitating community workshops, mentoring clients, teaching students or training practitioners, this framework defines what good practice looks like — and it does so through a Te Tiriti-informed, community-grounded lens,” Dr Wood says.

The framework defines four domains of competency — financial knowledge, practical skills, cultural responsiveness and ongoing professional development — and maps behavioural expectations for each across five practitioner roles. Importantly, it recognises lived experience and community context as key sources of knowledge and credibility, alongside formal training.

For the initiative to succeed, Dr Wood emphasises the need for sector-wide collaboration and clarity.

“It’s crucial that policymakers, educators and practitioners come together to support this. We need shared standards and a shared language if we want to ensure quality and equity in the services being delivered across the country.”

The forthcoming Professional Certificate in Financial Capability Practice, aligned with the framework, is expected to strengthen qualifications in the field and support further professionalisation of the sector.

“Most importantly, this is a living document — it’s designed to evolve with the needs of communities, the sector and the people it serves,” Dr Wood adds.

You can view the framework here.