What does financial advice cost?

ARTICLE

28 July 2026

5 min read

Financial advice is often viewed as an expense. But for many Australians, the more useful question isn’t what advice costs – it’s what it could help you avoid, improve, or achieve.

Whether you’re reviewing your superannuation, considering your insurance needs or planning for retirement, seeking professional advice comes with a cost. Understanding how financial advice is priced, what influences those fees, and the value advice may provide can help you decide whether it’s the right investment for your circumstances.

While advice fees vary depending on the complexity of your needs, it’s important to look beyond the upfront cost. Professional advice may help you identify opportunities, avoid costly mistakes, and make more informed financial decisions that support your longer-term goals.

How much does financial advice cost in Australia?

The cost of financial advice can vary significantly depending on the type of advice you’re seeking and the complexity of your circumstances.

According to Adviser Ratings research, the median cost of financial advice in Australia increased from approximately $2,510 in 2018 to $4,668 in 2024.

Several factors can influence the cost of advice, including:

The complexity of your financial situation
Whether you need advice on a specific issue or multiple areas
The amount of research and strategy development required
Whether you’re seeking one-off advice or ongoing support

For example, advice focused on a single topic, such as insurance or superannuation, may cost less than a comprehensive financial plan covering investments, retirement, tax considerations, and wealth protection.

Can you get one-off financial advice?

Yes. While many people associate financial advice with ongoing service arrangements, some financial advisers also offer one-off advice services.

One-off advice can be useful if you’re looking for guidance on a specific financial decision or life event, such as:

Reviewing your superannuation
Understanding your insurance options
Planning for retirement
Managing an inheritance
Developing a savings or investment strategy

This approach allows you to receive professional guidance on a particular issue without necessarily committing to an ongoing advice relationship. If you’re considering advice, it can be helpful to understand what a financial adviser does and the types of support they may be able to provide.

Why does financial advice cost what it does?

When people think about paying for financial advice, they often focus on the time spent meeting with an adviser. However, much of the work happens behind the scenes.

Providing personal financial advice typically involves:

Understanding your goals, needs, and circumstances
Gathering and reviewing financial information
Researching potential strategies and solutions
Assessing risks and opportunities
Preparing personalised recommendations
Meeting professional and regulatory obligations

This process is designed to ensure the advice you receive is tailored to your individual circumstances and aligned with your financial goals.

What’s the cost of not getting financial advice?

While it’s natural to focus on the upfront cost of advice, it’s also worth considering the potential cost of making important financial decisions without professional guidance.

Many financial decisions have long-term consequences. Small choices made today can have a meaningful impact on your financial position in the years ahead.

Case study

Maria and Jarrod*, a couple in their early 60s approaching retirement, sought advice through AIA Financial Wellbeing to understand whether they were making the most of their assets. Following a review of their financial position, their financial planner helped them discover that they no longer required personal insurance because they had sufficient assets to effectively self-insure, resulting in an approximate saving of $40,000. Their advice also identified opportunities to reduce superannuation and investment fees by around $8,000 a year and improve tax efficiency through strategic superannuation contributions. As a result, they boosted their superannuation balances by approximately $400,000 and achieved around $20,000 in tax savings.

*Names have been changed for privacy reasons

While every situation is different, the above example highlights how professional advice may help you:

Identify unnecessary fees within your superannuation or investments
Review whether your insurance arrangements still meet your needs
Better understand available tax-effective strategies
Structure retirement savings more effectively
Make informed decisions as your circumstances change
Build confidence in your financial future

Even relatively small adjustments can make a significant difference over time. Professional advice can help ensure your financial arrangements are working as efficiently as possible and remain aligned with your goals.

Is financial advice worth it?

The value of financial advice will depend on your personal circumstances, goals, and level of financial confidence.

For some people, advice provides reassurance and clarity. For others, it offers access to expertise that helps them navigate complex financial decisions and avoid common pitfalls.

Financial advice isn’t about predicting the future. It’s about helping you understand your options, make informed decisions, and develop a plan that supports what’s important to you.

When considering the cost of advice, it can be helpful to look beyond the fee itself and think about the value of having a strategy, a clear direction, and greater confidence in your financial decisions.

Disclaimer:
Copyright © 2026 AIA Financial Services Pty Limited (ABN 68 008 540 252, AFSL 231109), trading as AIA Financial Wellbeing. All rights reserved. This information is current at the date of this publication and is subject to change. This provides general information only, without taking into account factors like the objectives, financial situation, needs or personal circumstances of any individual and is not intended to be financial, legal, tax, health, medical, nutritional or other advice. Before acting on the information in this publication, individuals should consider its appropriateness having regard to such factors.