Standard 3: Professional Competence and Development
Professional competence means having the knowledge, skills, and experience needed to provide effective, ethical, and client-focused financial mentoring. Professional development ensures these skills remain current and relevant as client needs, financial systems, and best practices evolve.
Here’s some things you can build on:
| Key Element | What It Involves |
| Knowledge and skills | Understanding financial systems, products, policies, and relevant legislation; applying ethical principles, professional standards, and culturally responsive practices. |
| Ongoing learning | Engaging in continuous professional development through training, workshops, and supervision; staying updated on changes in finance, legislation, and community services. |
| Ethical practice | Recognising the limits of your expertise and working within your scope; making decisions that prioritise client wellbeing and maintain professional integrity. |
| Reflection and improvement | Regularly evaluating your practice and seeking feedback; using experience and learning to enhance effectiveness and client outcomes. |
Professional competence and development ensures financial mentors provide high-quality, ethical, and effective support, continually improving to meet client needs and maintain trust.