Financial Counsellors

Financial counsellors in Australia are qualified professionals who provide free, independent, and confidential support to individuals experiencing financial hardship or debt issues. They work for non-profit community organizations, offering budgeting advice, debt negotiation, and legal information to help clients manage debt, rather than providing investment advice.

Purpose of Financial Counsellors:

• Support & Advocacy: They help individuals understand financial rights, negotiate with creditors, and explore options like bankruptcy.
• Free Service: Their services are entirely free to the public, setting them apart from financial planners.
• Independence: As they do not receive commissions from third parties, their advice is unbiased and strictly for the client's benefit.
• Structural Advocacy: They work to identify and address systemic issues causing financial hardship within the community. 

How Financial Counsellors are Paid:

• Government Funding: The majority of financial counselling services are funded by State, Territory, and Federal governments.
• Not-for-Profit Employment: They are employed by community-based, not-for-profit organisations (e.g., in the community services sector), not by banks or credit providers.