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Choosing the right financial adviser for your situation

No matter if your financial position is simple or more complex, a 

financial adviser can work with you to help you achieve your financial goals.

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Choose the type of advice you're looking for assistance on. Depending on your life stage and needs, the area of advice you require may be varied.

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Decide which financial adviser best suits your needs based on their expertise. They may be local to your state or take virtual appointments if you prefer.

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Still have questions?

A financial adviser, or financial planner, is someone who can help you set your financial goals and make a plan to help you achieve them. Financial advisers can typically provide advice on areas such as investing, superannuation, retirement planning, estate planning, risk management and insurance. Some financial advisers may also be licensed to offer tax advice. Advice can range from one-off advice on a single issue to ongoing advice.

The cost of receiving financial advice can vary depending on the complexity of the advice, as well as the fee structure the financial adviser uses. On average, the Financial Planning Association (FPA) found that planners charge an initial fee of $3,300 to set up a plan and then about $4,300 annually for ongoing advice.

Before working with a financial adviser, you should check their fee structure and expertise to ensure it is suitable for your own situation and needs. 

When you meet a financial adviser, Moneysmart says it’s a good idea to ask them about:

  • what their qualifications and specialty areas are
  • who their typical client is
  • how they charge (i.e., what fees they charge and how much these are)
  • how they choose which products to recommend and whether they receive any commissions or incentives

Canstar’s Adviser Locator tool is an opt in service. Financial advisers choose to be included on our data base. Canstar follows a comprehensive due diligence process to ensure the financial advisers we connect you with are licensed financial advisers. The financial advisers do not work for Canstar and Canstar is not responsible for the advice provided by these financial advisers. Contact the financial adviser you are interested in connecting with directly for more information about their skills and experience. We recommend you review the financial adviser’s Financial Services Guide which will be available directly from the financial adviser. Canstar may earn a fee from financial advisers for referrals from its website.

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