Money adviser
Money advisers help people to organise and take control of their household finances and bills.
Also known as: Debt counsellor
- Starter salary£24,000 a year
- Experienced£32,000 a year
- Typical hours30 to 40 a week
What you'll do
As a money adviser, you could:
- talk to your clients about their financial situation
- look at a client's income and expenditure
- give tailored advice on the options available
- help clients budget for bills, arrears and day-to-day living costs
- help with benefits applications where clients are eligible
- explain options like bankruptcy and court processes, if appropriate
- keep accurate and confidential client records
- stay up to date with money and debt regulations
- refer people to other support agencies when required
Working environment
You could work at a client's home, in the community, at a client's business or in a court.
Your working environment may be emotionally demanding.
Skills and knowledge you'll need
You'll need:
- customer service skills
- maths knowledge
- to be thorough and pay attention to detail
- sensitivity and understanding
- excellent verbal communication skills
- active listening skills
- analytical thinking skills
- patience and the ability to remain calm in stressful situations
- to be able to use a computer and the main software packages confidently
How to become a money adviser
You can get into this job through:
- an apprenticeship
- volunteering
- applying directly
- specialist courses run by a professional body
Apprenticeship
You may be able to apply to do a Revenues and Welfare Benefits Practitioner Level 4 Higher Apprenticeship.
These are usually offered by community advice services, charities and local councils .
Entry requirements
Employers will set their own entry requirements.
Volunteering
A common way into this career is to volunteer in an advice centre. You'll often start with admin duties and giving general advice. You'll then receive training in money advice, once you have more experience.
It usually takes at least a year to get enough experience and knowledge to apply for paid money adviser positions.
You can search for volunteering opportunities through organisations like:
- Do IT
- NCVO
- rightsnet
Direct application
It may be possible to apply directly to employers if you have the relevant skills and knowledge required for this role. It will be helpful to have experience in areas, such as:
- consumer advice
- welfare rights work
- advice roles with a local council, tenancy group or Jobcentre Plus
- debt recovery for a bank, utility company or similar organisation
You'll need a good standard of English and maths and a non-judgmental approach.
Your employer may offer you extra training in money advice after joining them.
Other routes
You may be able to do a training course through the Chartered Institute of Credit Management . They have different levels of training, depending on your job role, duties and experience.
Career path and progression
With experience, you could become a specialist caseworker, or be promoted to a team leader or management post.
You could also move into training and development of money advice workers.
Career tips
It could be helpful in some jobs if you speak a minority community language or have skills in British Sign Language.
Professional and industry bodies
You could join the Institute of Money Advisers for professional recognition, training opportunities and to make industry contacts.
Guides for this industry
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Contains public sector information licensed under the Open Government Licence v3.0