Professional Competence

Professional competence for a financial mentor is the ability to deliver effective, high-quality mentoring by applying knowledge, skills, and experience. It includes technical financial knowledge, ethical practice, clear communication, and the ability to adapt to client needs and changing situations. Competent mentors consistently provide accurate guidance, support informed decision-making, and engage in ongoing learning and reflection to improve their practice.

We need to maintain the knowledge, skills, and understanding necessary to provide effective financial mentoring services. 

In practice, this means: 

• staying current, and compliant with relevant legislation, policies, and best practices 
• recognising the limits of our expertise and seeking support when needed 
• only practicing within our scope of competence and qualifications; and 
• referring clients to other professionals when their needs exceed our expertise.