One of the most common questions I hear — especially from women who’ve never had professional financial advice — is: “How much does a financial advisor actually cost?” It’s a fair question. And the answer is more nuanced than a single number.
Here’s a straightforward breakdown of what you can expect to pay in Australia right now, plus my honest take on when it’s worth it and when it’s not.
The Quick Answer
That figure comes from the 2025 Australian Financial Advice Landscape report, and it covers ongoing advice — regular check-ins, portfolio reviews, and strategy adjustments throughout the year. But ongoing advice is only one piece of the picture.
What Financial Advisors Charge: A Breakdown
| Service | Typical Cost |
|---|---|
| Initial consultation | Free – $500 |
| Comprehensive financial plan (Statement of Advice) | $2,500 – $5,500 |
| Complex or specialist advice (SMSF, trusts, divorce) | $5,000 – $12,000+ |
| Ongoing annual advice | $3,000 – $10,000+ |
| Hourly rate | $150 – $550/hr |
| Percentage of assets under management | 0.5% – 1.5% p.a. |
These ranges are wide because the cost depends on three things: the complexity of your situation, the depth of service you need, and the fee model your advisor uses.
Why Fees Have Gone Up
If those numbers feel high, you’re not imagining it. The median cost of financial advice has risen roughly 58% over the past five years. That’s driven largely by tighter compliance requirements — advisors now spend significantly more time on documentation and regulatory obligations, and those costs get passed on.
As of 2026, all financial advisors must also meet mandatory degree-level education standards, and commissions on superannuation and investment products are banned. That’s actually a good thing for consumers — it means the advice you’re getting is less likely to be influenced by what earns the advisor a commission.
What You’re Actually Paying For
When you pay for financial advice, you’re not just paying for someone to tell you what to invest in. You’re paying for a strategy built around your life — your income, your goals, your family situation, your risk tolerance, and your timeline.
Good financial advice covers things like how to structure your superannuation contributions (including spouse contributions if your partner is on a career break), whether your insurance is adequate, how to minimise tax legally, and how to build a plan that accounts for the real-life things that disrupt neat financial projections — like having kids, changing careers, or going through a divorce.
When It’s Worth It — and When It’s Not
Worth the investment:
When you’re approaching a major life decision — buying a home, having a baby, returning to work, navigating a divorce, or planning for retirement. These are the moments where a one-off plan or a short engagement with an advisor can deliver value that far exceeds the fee.
Probably not necessary:
If your finances are straightforward and you just need to build good habits — budgeting, reducing debt, understanding how super works — you may be better served by a structured financial education program first. That’s exactly why I built My Money Makeover: to give women the foundational knowledge they need before (or instead of) paying thousands for one-on-one advice.
How to Get the Most From Your Money
Most advisors will offer a free initial meeting. Use it. Come with specific questions. Ask how they charge, what you’ll receive, and whether a one-off plan might suit you better than an ongoing retainer.
And remember — financial literacy is not a luxury. It’s the foundation that makes every dollar you spend on professional advice go further. When you understand how money works, you ask better questions, you make better decisions, and you stop relying on someone else to manage your financial life.
Want to build the financial confidence to take control of your money — with or without an advisor?
Explore My Money MakeoverDisclaimer: This article is general information only and does not constitute personal financial advice. Costs quoted are indicative and based on publicly available 2025 industry data. Your individual circumstances may vary. Always seek advice from a licensed financial advisor before making financial decisions.
