Will “Financial Wellness Coach” be Replaced By Robots? 🤔

Job Description

Advise and educate individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explaining loan requirements or restrictions. May help develop debt management plans, advise on credit issues, or provide budget, mortgage, and bankruptcy counseling.

Job Details

• The SOC (Standard Occupational Classification) code is 13-2071.00
• The Mean Annual Wage in the U.S. is $ 49,480.00
• The Mean Hourly Wage is $ 23.00
• Currently, there are 34,110 people on this job

☝️ Information based on the reference occupation “Credit Counselors”.

Also Known As…

• Credit Counselors
• Financial Health Counselor
• Financial Coach
• Credit Counselor
• Counselor
• Counseling Program Leader
• Certified Personal Finance Counselor
• Certified Credit Counselor
• Certified Consumer Credit and Housing Counselor
• Assistant Director for Financial Literacy
• Mortgage Loan Counselor
• Mortgage Counselor
• Financial Wellness Coach
• Financial Aid Officer
• Financial Aid Counselor
• Financial Aid Advisor
• Debt Management Counselor
• Debt Counselor
• Debt and Budget Counselor
• Credit Support Counselor
• Credit Specialist
• Credit Representative
• Credit Balance Specialist
• Consumer Credit Counselor
• Branch Credit Counselor

Tasks for “Financial Wellness Coach”

• Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs.
• Prioritize client debt repayment to avoid dire consequences, such as bankruptcy or foreclosure or to reduce overall costs, such as by paying high-interest or short-term loans first.
• Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
• Advise clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention.
• Estimate time for debt repayment given amount of debt, interest rates, and available funds.
• Investigate missing checks, payment histories, held funds, returned checks, or other related issues to resolve client or creditor problems.
• Conduct research to help clients avoid repossessions or foreclosures or remove levies or wage garnishments.
• Explain loan information to clients, such as available loan types, eligibility requirements, or loan restrictions.
• Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
• Calculate clients' available monthly income to meet debt obligations.
• Recommend educational materials or resources to clients on matters such as financial planning, budgeting, or credit.
• Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries.
• Teach courses or seminars on topics such as budgeting, managing personal finances, or financial literacy.
• Prepare written documents to establish contracts with or communicate financial recommendations to clients.
• Interview clients by telephone or in person to gather financial information.
• Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or to set up payment plans.
• Refer clients to social service or community resources for needs beyond those of credit or debt counseling.
• Recommend strategies for clients to meet their financial goals, such as borrowing money through loans or loan programs, declaring bankruptcy, making budget adjustments, or enrolling in debt management plans.
• Explain services or policies to clients, such as debt management program rules, the advantages and disadvantages of using services, or creditor concession policies.
• Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
• Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
• Assess clients' overall financial situation by reviewing income, assets, debts, expenses, credit reports, or other financial information.
• Disburse funds from client accounts to creditors.

Related Technology & Tools

• Laptop computers
• Laser facsimile machines
• Financial calculators
• Inkjet printers
• Laser printers
• Multi-line telephone systems
• Personal computers

• Email software
• Paragon Financial Services Paragon Financial System
• Integrant DebtLogic
• Merlin Information Services databases
• Microsoft Excel
• Prime Debt Soft Debt Settlement
• Prime Debt Software Credit Repair
• Microsoft Outlook
• Microsoft PowerPoint
• Microsoft Office
• Freddie Mac Loan Prospector
• SAP
• Cooperative Processing Resources DMS Professional Suite
• LexisNexis Accurint
• Web browser software
• ICCO CreditSoft
• Microsoft Word
• Microsoft Access
• Oracle PeopleSoft
• CoreLogic DebtorTrace
• Chat software