Financial counselling broadens
Minister for Fair Trading Linda Burney announced the New South Wales Government would broaden its financial counselling services across the state, with $100,000 per annum being provided to the training program over the next two years.
This follows Premier Morris Iemma’s announcement in April that an additional $1 million would be set aside for financial counselling services from July 1, 2008, making a total of $3.7 million per annum.
“These initiatives will ensure that we have well-trained and professional financial counsellors to help families battling to make ends meet,” she said.
According to Burney, the Salvation Army’s Moneycare Goulburn will receive $30,000 to provide services in the Goulburn and Southern Highland areas.
“Twenty-three existing services will be receiving additional funding to meet the ever increasing stream of requests, with a quarter of the new funding going to south and south western Sydney.”
Burney said the additional funding will allow for an extra 3,200 days of counselling services and directly benefit an estimated 16,000 families.
Recommended for you
Multiple industry organisations have shared their thoughts on AFCA’s proposed rules amendment, supporting the idea of firms being named publicly when they fail to comply with determinations.
Channel Capital has appointed a head of investment oversight who joins from 14 years at asset consulting firm JANA Investment Advisers.
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.