AMP partnership with Good Shepherd supporting Australians in financial hardship

From

Stella Avramopoulos

A new partnership between AMP and financial wellbeing specialist Good Shepherd is providing meaningful support to clients experiencing hardship just weeks after its launch.

The partnership provides AMP clients experiencing financial hardship with further support, including direct access to specialised financial counselling provided by Good Shepherd – a non-profit organisation that works with government, community and corporates to provide financial wellbeing products and services.

The program, which is in addition to AMP’s existing financial hardship measures, includes a specialist team of Good Shepherd financial wellbeing experts and a social worker helping clients who would benefit from specialised counselling and support.

It also identifies and supports AMP clients at risk of financial hardship due to factors such as family violence, economic abuse, mental health issues or gambling addiction by providing referrals to community or health services.

Good Shepherd provided training to AMP client-facing employees from across the business to help them identify clients in need of additional support. Less than two months after its launch, employees are already reporting meaningful impacts.

Almost half of the clients referred to Good Shepherd went on to engage with at least three services – from a range of offerings, including financial counselling, support with paying utilities, food vouchers, support with housing and domestic violence support.

Head of the AMP Foundation, Helen Liondos commented: “This program makes it much easier for our people to connect clients at risk of financial hardship due to complex factors such as family violence, economic abuse and mental health issues with support services that can help put their lives back on track.

“For example, we had a recent case where a client indicated she was in an abusive relationship and after speaking with one of our trained team members, accepted an offer to speak to a Good Shepherd specialist. Their specialists supported the woman as she left the relationship and set herself up independently. This is just one story highlighting the importance of the program and partnership in supporting Australians during this difficult time.”

Good Shepherd Australia New Zealand CEO, Stella Avramopoulos commented: “We’re pleased to be partnering with AMP to provide this important service. We know the significant difference financial wellbeing and financial counselling support can provide people in their time of need.

“Over the past six months we have seen an increase in the number of Australians requiring support, and we know there are a lot more people that still need our help.”

Specialists from Good Shepherd work with AMP clients to:

  • Explore ways to waive existing debt through financial counselling
  • Ensure clients are aware of their rights
  • Provide support to access existing rebates, grants and alternative forms of income
  • Access the hardship provisions of institutional creditors
  • Provide access to a social worker and referral paths to community or health services
  • Support client to build their financial resilience, knowledge and skills.

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