AMP has launched a six-month pro bono financial advice pilot program in New South Wales and the Australian Capital Territory in conjunction with the Salvation Army.
The AMP Pro Bono Advice program comprises 12 self-employed AMP financial planners from Sydney, Newcastle and Canberra, all who have offered to donate their own time and resources to the pilot.
Financial advice will be offered to recipients of various Salvation Army services, including MoneyCare Financial Counselling and Northside Women’s Service.
Planners will assist recipients with decisions relating to compensation payments, insurance claims, gaining access to superannuation under hardship provisions and maximising social security entitlements.
AMP director of financial planning, advice and services Steven Helmich said advice will be made available when the “financial situation of a recipient is beyond the remit of the Salvation Army counselling services”.
“The Salvation Army will then make a referral to a participating AMP financial planner, according to their location, area of specialisation and capacity.
“It is expected that a planner will spend up to 12 hours providing the initial advice, which involves interviewing the recipient, developing an appropriate strategy and documenting their recommendations,” he said.
