Money adviser

Alternative titles for this job include Debt counsellor

Money advisers help people whose debts have become too large or difficult for them to handle.

Average salary (a year)

£18,000 Starter

to

£28,000 Experienced

Typical hours (a week)

30 to 32 a week

You could work

evenings / weekends flexibly

How to become a money adviser

You can get into this job through:

  • volunteering
  • 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.

Direct application

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.

Other routes

You can do a Level 3 Certificate and Diploma in Money and Debt Advice through the Chartered Institute of Credit Management.

More information

Career tips

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

You'll need:

  • 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

Day-to-day tasks

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

Working environment

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.

Current opportunities

Apprenticeships In England

We can't find any apprenticeship vacancies in England for a money adviser right now.

The Find an apprenticeship service can help you with your search, send alerts when new apprenticeships become available and has advice on how to apply.

Courses In England

Financial Services Certificate

  • Provider: Coopers School
  • Start date: 01 September 2021
  • Location: Chislehurst

Diploma in Financial Services

  • Provider: Northfleet School for Girls
  • Start date: 01 September 2020
  • Location: Gravesend

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