Review of the Coordination and Funding of Financial Counselling Services Across Australia
This consultation has now closed.
Following the Government’s response to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the Australian Government agreed to take action on all 76 recommendations contained in the Royal Commission’s Final Report. In a number of important areas, the Government went even further and conducted an immediate review of financial counselling services.
The Government recognised that financial counselling is a vital service used by thousands of Australians every year. For this reason, an immediate review commenced that focused on the coordination and funding of financial counselling services. It considered gaps and overlaps in current services and the adequacy of appropriate delivery models for future funding.
This Review is a chance to increase predictability and stability in funding for financial counselling, as well as consider whether funding sources can be broadened. States and territories, private and not-for-profit funders, the financial services sector and those involved in service delivery are being consulted.