Free financial counselling program launched

amp/

13 September 2021
| By Liam Cormican |
image
image image
expand image

Variety, the children’s charity, has launched a year-long free financial counselling pilot program aimed at supporting Australian families of children who are disadvantaged, sick or living with disability.

Supported by the AMP Foundation, the program aimed to address the statistic that one-in-six Australian children lived below the poverty line, according to a pre-COVID Australian Council of Social Service and UNSW report.

The service would address the unique set of financial circumstances for families raising a child with a disability or illness, including increased medical costs, disruption to parent’s work arrangements, specialised education, home modifications and home support.

Variety Queensland chief executive, Steve Wakerley, said: “We are excited to partner with the AMP Foundation, who also understand that well-timed, one-on-one support from a financial counsellor can make a world of difference for families experiencing financial hardship”.

Variety financial counsellors would assist with managing debt and household budgets, negotiating with creditors, providing Centrelink guidance, accessing utility grants, and helping families understand their financial rights and responsibilities. They could advocate on behalf of families and could refer them to the right service to access legal advice and dispute resolution.

Financial Counsellors Association of Queensland chief executive, Jon O’Mally, said: “Financial counselling plays a key role in empowering families to secure a sound financial foundation and can improve outcomes on a range of measures, including financial capability and consequently health and wellbeing”.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

4 weeks ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 3 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

2 weeks 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3