WHAT DO FINANCIAL COUNSELLORS DO?

Members of the Victorian Association of Financial Counsellors are required to abide by a strict Code of Ethics, Professional Conduct and Standards of Practice.

Financial Counsellors work with individuals, families or groups of consumers who are experiencing disadvantage and/or dispute in regard to their financial situations. They provide para-legal information and advocacy on an extensive range of issues related to the inability to pay household bills, loans, credit cards, mortgages, rent, fines, taxation and child support.

Financial Counsellors work involves direct casework, group or class advocacy, community development, education, social action and, law and policy reform. The service provided by Financial Counsellors is free of charge, and without any conflict of interest. The work undertaken by Financial Counsellors particularly assists low income and vulnerable consumers.

Financial Counsellors assist clients to access income and concessional entitlements as well as other forms of available assistance. They provide information and education on many topics relating to these issues, as well as assisting clients on matters including bankruptcy and social security. Financial Counsellors refer clients to other services as appropriate, to encourage a holistic approach to the economic and social situation of the client.

Financial Counsellors provide information, options, support and advocacy to assist clients improve their financial circumstances. The aim is to assist and support the client to increase their skills and confidence to deal with their financial affairs in the future. An integral component of the role is to raise the client's awareness of their position and rights within the structural framework of today's financial marketplace.

The accredited qualification for Financial Counsellors in Victoria is the 'Diploma of Community Services (Financial Counselling)'. This Diploma is predicated on the philosophy and practice of Community Development. The principles of Community Development are grounded on a social justice framework which contribute to both an empowering individual approach to financial counselling together with priority on policy and law reform, and social action with the aim to improve the lives of all clients.

The demands of financial counselling practice necessitate the provision of continual opportunities for professional development. Regular accredited training and skill development ensures that Financial Counsellors stay abreast of ongoing legislative changes and developments in market place practice.

The practice of financial counselling is often undertaken in under-resourced and isolated environments. This fact in tandem with the often complicated and multi-faceted and ever changing nature of financial counselling casework has lead to widely acknowledged successes in the networking of Victorian Financial Counsellors. The priority placed on regular opportunities for networking and case consultation enhances peer support, worker expertise and the ability of Financial Counsellors to contribute casework experience to policy reform activities and research.