MPower Money Coaching Program

The objective of the MPower Financial Coaching Program Canadians living in poverty experience a host of financial as a trusted and skillful was to develop and test the feasibility of a financial coaching barriers that prevent most from building the financial stability program that mobilized, trained and supported profession- and assets they need to pursue proven routes to prosperity – guide to hel [...] Prosper Canada worked with and the Independent Financial Brokers ment a rigorous volunteer recruitment, TESS to match volunteer coaches with PARTICIPANT DATA of Canada – to help recruit and select selection and training process to ensure program participants and then imple- accredited financial planners to serve as all volunteer coaches were appropriately mented two five-month coaching cycles 68% [...] Moreover, the coaches were devoted to to assure participants of total confidentiality and to provide helping their participants and so were able to give extra time impartial support without making any judgements about the and attention to building a relationship with them. [...] Those who were aware that their • The participant’s ability to communicate and read in English coach was a volunteer said that it motivated them to devote • The participant’s mental health (the program is not appro- more energy to the program to take advantage of the unique priate for the needs of participants in the midst of extreme depression). [...] I. MPOWER MONEY COACHING PROGRAM 9 Participant screening was also an opportunity for TESS staff to All supporting staff need to have a strong understanding ensure that participants understood and knew what to expect of the financial coaching program in order to communi- from the coaching program.