Money advisers help people whose debts have become too large or difficult for them to handle.
Salary Range: £18,000 to £28,000
How to become a money adviser
You can get into this job through:
- applying directly
- specialist courses run by a professional body
Volunteering and experience
A common way into this career is to volunteer in an advice centre. You’ll often start by giving general advice, then get special 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 work as a money adviser.
Do It has more information on voluntary opportunities in your area.
It may be possible to apply directly to employers if you have some of the relevant skills and knowledge required for this role. It will be useful to have experience in other areas like:
- consumer advice
- welfare rights work
- debt recovery for a bank, council, utility company or similar organisation
Most employers will not ask for qualifications as your experience would be the most important thing. But you should have a reasonable standard of English and feel comfortable with maths.
Your employer may ask you to do additional specialist training.
You can do a Level 3 Certificate and Diploma in Money and Debt Advice through the Chartered Institute of Credit Management.
For some jobs, it may be an advantage if you speak a minority community language.
Professional and industry bodies
You may find it useful to join organisations like the Institute of Money Advisers, for professional recognition, training opportunities and to make industry contacts.
What it takes
Skills and knowledge
- customer service skills
- knowledge of economics and accounting
- maths knowledge
- to be thorough and pay attention to detail
- sensitivity and understanding
- persistence and determination
- analytical thinking skills
- excellent verbal communication skills
- to be able to use a computer and the main software packages competently
What you’ll do
Your day-to-day duties may include:
- talking to clients about their money problems
- looking at income and outgoings
- carrying out a benefits check and supporting benefit claims
- working out a sensible budget
- helping put debts in order of importance
- talking with creditors to sort out a practical repayment plan
- gaining the client’s agreement to any repayment plan
- talking about other options like bankruptcy and what happens in court
- taking the place of clients in court when asked to do so
You could work at a client’s business, at a client’s home or in a court.
Career path and progression
With experience you could become a specialist caseworker, or be promoted to a team leader or management post.