The Australian Financial Security Authority (AFSA) today recognises the vital role financial counsellors play in identifying financial harm early and strengthening the integrity of Australia's personal insolvency system.
Speaking at the 2026 Financial Counselling Australia Conference in Cairns today, Mr Beresford highlighted how frontline observations from counsellors help shape AFSA's education, compliance and enforcement activity.
AFSA Chief Executive and Inspector‑General in Bankruptcy, Tim Beresford, said:
"Financial counsellors play a critical frontline role in supporting people under financial pressure, often at moments of real vulnerability.
"Through this work, they also provide invaluable insight into how broader economic pressures are affecting households and communities across Australia.
"What financial counsellors see day-to-day offers early warning of where financial strain is intensifying and where risks and harms are beginning to emerge.
"That intelligence is essential to maintaining trust and confidence in Australia's personal insolvency system, enabling regulators to respond early, proportionately and in a way that protects the system's integrity."
"Our regulation is outcomes‑focused and proportionate. What counsellors see on the ground helps ensure our response is targeted, evidence‑led and grounded in lived experience."
Mr Beresford also acknowledged the longstanding contribution of respected financial counsellor and advocate Dr Betty Weule, AM across 50 years in the industry. Mr Beresford noted Dr Weule's influence on AFSA's work across vulnerability, debt agreement affordability, education initiatives and consumer safeguards.
"Contributions from people like Betty Weule demonstrate the value of strong collaboration between regulators and financial counsellors. That partnership is essential to reducing harm and maintaining trust across the system."
AFSA works closely with Financial Counselling Australia, financial counsellors and community organisations through ongoing engagement and formal consultation, including its Consumer Consultative Panel.
"A strong personal insolvency system depends on collaboration. When intelligence from the coal face informs regulatory action, outcomes improve for individuals, creditors and the broader Australian community."
More information about AFSA's work and support pathways is available at www.afsa.gov.au.
