The Derby Telegraph reports that Leanne Nicholson persuaded one client to give her £210,000.
The client allegedly feared he would have to sell his house to pay off a £61,000 tax bill incurred by cashing in an investment bond to give Nicholson money.
Another man was defrauded of £80,000, part of which had been left by his late wife to pass on to their children.
Nicholson claimed she had intended to pay back all the money.
She pleaded guilty to six counts of fraud by abuse of position over 2010 and 2011.
The 47-year-old mother of two had run a private advice service from her house in Darley Abbey, Derby.
In 2011 the company was declared insolvent and Nicholson was later declared bankrupt.
The court heard that she used the money to pay off personal and business debts.
Prosecutor David Allan said Nicholson “subverted the trust” of the men, while the court was told that one of the victims had said her actions had made him “want to die”.
A compensation hearing will take place at a later date.
