Financial services firm AMP has partnered with the Salvation Army to provide a six-month free financial planning service to people who are financially disadvantaged.
Initially the scheme will run in New South Wales and the Australian Capital Territory though if successful, AMP will take the program nation-wide.
The program will target people who already receive services from the Salvation Army under their MoneyCare Financial Counselling and Northside Women's Service units.
"When the financial situation of the recipient is beyond the remit of the Salvation Army counselling services a referral will be made to an AMP financial planner," AMP director of financial planning Steven Helmich said.
The AMP planner will spend up to 12 hours providing the initial advice. The plan will include advice on compensation payments, insurance claims, accessing superannuation under hardship provisions and maximising social securities entitlements.
About 12 self-employed AMP financial planners will be involved in the scheme.
"The program will provide an opportunity for some clients to get help in financial planning that may not have been available to them previously," Salvation Army consultant Tony Delvin said.
