Financial/Debt Management Advisor

theman84

Hi

I wonder if someone could give me some advice regarding a career move? 

I've been a Quantity Surveyor/Estimator for nearly 20 years and love the job to death but unfortunately, like many others, have been made redundant following the impact of Covid19 and in recent interviews being told your "perfect for the job but your too far away from HQ or your not experienced enough" starts to make you reconsider your options. 

Although I'm still seeking roles in my own profession I've always had this "odd itch" to seek a role as a Financial Advisor or Debt Management Advisor. 

Obviously I've trained before in Quantity Surveying but how difficult is it to basically "start again" as a Financial Advisor or Debt Management Advisor? I'm 36 now so would I be too old to retrain? 

Any guidance would be greatly appreciated. 

Thanks. 

MEM62

If you are a QS, as is my wife, then you will have a degree.  A degree opens up doors in many fields, not just the one you took you qualifications in.  One thing to note though, is that your earning potential would be significantly less as a Debt Advisor than is is as a QS.       

theman84

MEM62 said:

If you are a QS, as is my wife, then you will have a degree.  A degree opens up doors in many fields, not just the one you took you qualifications in.  One thing to note though, is that your earning potential would be significantly less as a Debt Advisor than is is as a QS.       

Many thanks for your comment.

Obviously it's been one of them things that I've thought about over the years, taking into consideration the lessor salary, but paused pursuing simply because my skills as a QS was in demand and I loved the job. 

Unfortunately I got my hands burnt by an ex-employer messing me before making me redundant last October and a friend unfortunately attempted suicide due to financial problems which, where I can, tried to guide (as friends would do) so has started the thought process again to become a financial advisor or Debt Management Advisor. 

I think it's now where or what do I need to do to make this happen. 

Marcon

There's a massive difference between being a financial advisor and a debt management advisor: at its simplest, the former deals with people who have money, the latter deals with people who haven't! Which do you think you want to do? 

theman84

Marcon said:

There's a massive difference between being a financial advisor and a debt management advisor: at its simplest, the former deals with people who have money, the latter deals with people who haven't! Which do you think you want to do? 

Thanks for your message. 

I completely agree with you both interest me but for now my interest seems to fall more towards a debt management advisor. 

[Deleted User]

theman84 said:  

I think it's now where or what do I need to do to make this happen. 

Could depend on where you are in the UK
Debt Management Advisor Jobs - February 2021 | Indeed.com
Debt/finance adviser: job description | TARGETjobs
Stepchange Debt Charity jobs and careers | Indeed.com

Savvy_Sue

You may find that there is some training available locally for volunteer debt management advisers. I'd expect that to put you at an advantage when applying for jobs in that field, but also making good use of your down time may help with other jobs. 

theman84

Deleted User said:

theman84 said:  

I think it's now where or what do I need to do to make this happen. 

Could depend on where you are in the UK
Debt Management Advisor Jobs - February 2021 | Indeed.com
Debt/finance adviser: job description | TARGETjobs
Stepchange Debt Charity jobs and careers | Indeed.com

Many thanks for the message. 

I'm currently based in the East of England but will certainly have a look at the links over the weekend.

I spoke to one or two companies who told me that I wasn't suitable for the role due to lack of experience (one told me I haven't shown any experience with managing figures so I explained what I quantity surveyor did üòÇüòÇüòÇ) but I'm not someone to give up easily. 

Savvy_Sue

I had another 'starter' thought for you: I know at least one of the 'good' debt management companies offers a short course on managing finances: worth doing that. Plus I'd look at https://www.open.edu/openlearn/money-business/mses-academy-money/content-section-overview?active-tab=description-tab

And do that.

I appreciate you need to earn money, but you've also got to get experience, and more formal learning won't hurt. Plus I don't know, but I'd anticipate the earnings of a debt management adviser might not match those of a QS, so re-jigging your personal finances wouldn't go amiss.

Always_Alba

I was a debt adviser for a national charity for 9 years and loved it, probably the best job I will ever do. Be prepared for people with mental health issues and suicidal thoughts, also for people with lifestyles that society will judge negatively.  The secret of the job is to complete financial budgets and then provide options,  most people have at least two. The job satisfaction comes from helping people get their lives back and sometimes one sentence can change everything for the better. After X number of years, you'll be ready to move on, burn out is a common feature. Good luck if you chose this career.

ChasingtheWelshdream

I hope it's OK to post on here. I was about to start my own thread but the OP question is very similar. If this is better as a separate post I will happily do so.

I wanted to apply for job with a local authority, which is mainly advising and supporting residents with benefit entitlement - advising of eligibility, assisting with applications and gathering any evidence required in the correct format for their applications. Not assessing or processing claims, just supporting in the first instance.

I have experience of providing similar support, but I am lacking the "specialist knowledge of legislation" and "recent personal development" elements of the essential criteria.  I have likely missed the boat this time around, but I would like to pursue future opportunities if they arise.

Are there formal courses covering the legislation that are recommended? Or is it more just research, research, research? I am  also looking into any volunteering opportunities to provide practical experience but it may be a while before something comes up.

OP - I hope you get on OK as it sounds very rewarding.