Financial Capability Financial Inclusion Report

Financial Capabilities of Service Providers: Results of an Online Survey of the Asset-Building Field in Washington State

This mixed-methods study was commissioned by Burst for Prosperity to explore and describe the state of asset building in Washington State. Among the objectives of this research endeavor was to explore the financial capabilities of service providers in the asset-building field, particularly service providers’ level of financial and debt literacy, their personal financial practices, and their level of comfort and preparedness to work on the financial aspects of their clients’ lives. The study found that respondents in the asset-building field had very positive self-assessments of their financial capabilities and the vast majority reported high levels of functioning across the different financial practice domains. However, the level of financial literacy among respondents was no better than the general population. Much work remains to improve the financial capabilities of service providers.

Citation

Loke, V. (2011). Financial capabilities of service providers: Results of an online survey of the asset-building field in Washington State (CSD Research Report No. 11-03). St. Louis, MO: Washington University, Center for Social Development.