Financial counsellors are qualified professionals who provide free, independent and confidential support to individuals facing financial difficulties. They offer tailored advice and resources to help people manage debt, navigate financial challenges, and access available assistance in a non-judgmental environment. Their role is to help clients understand their financial options to enable them to make informed decisions to regain control of their finances.
With expertise in areas such as consumer rights, credit law, debt recovery, bankruptcy, and hardship provisions, financial counsellors navigate complex financial and legal issues on behalf of their clients. They work within a client-focused framework, ensuring that individuals receive the necessary education and support while maintaining autonomy over their financial choices.
Financial counsellors are employed by community-based, not-for-profit organisations that operate under exemptions within the Corporations Regulations 2001 and the National Consumer Credit Protection Regulations 2010. This allows them to provide financial counselling services without the need for a financial services or credit licence, so long as the services are delivered by qualified and professionally accredited financial counsellors.
To preserve their independence and ensure unbiased support, financial counselling services must be provided free of charge and free from conflicts of interest.
Financial counsellors are not financial planners or advisors, and they do not hand out grants or emergency relief payments. Not just anyone can call themselves a financial counsellor, there are strict rules to ensure clients get the right support. More information about the restrictions that apply to the use of the terms “financial counsellor” and “financial counselling” is available below.