The short answer: a Statement of Advice from a qualified financial adviser in Australia typically costs $3,500–$6,000 for a one-off engagement, or $4,000–$6,000 a year for ongoing advice (current as at 2026). Simple single-issue advice — one super rollover, one insurance review — runs around $1,500–$2,500. The price reflects the time required to do it properly under current ASIC and FASEA standards, not the value of the underlying products.
You’ll pay $3,500–$6,000 for proper one-off advice in 2026, or $4,000–$6,000 a year for ongoing. The number that matters more than the headline fee is what’s actually included, how it’s disclosed, and whether it’s tax deductible.
Most Australians have no idea what financial advice costs because most advisers don’t publish their fees. That’s a problem worth fixing — and we’ll cover both the typical market rates in 2026 and how to tell whether you’re getting value.
Why Financial Advice Costs What It Does
Financial advice in Australia got expensive after the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (2018-19). The reforms that followed — FASEA professional standards, ASIC RG 175 disclosure obligations, mandatory degree qualifications — added significant time and cost to the process of giving compliant advice.
A modern Statement of Advice (SOA) typically takes 20 to 30 hours to research, document, and deliver. The adviser also has to maintain a degree-level qualification, Continuing Professional Development hours, professional indemnity insurance, AFSL membership or licensing fees, and the back-office systems to comply with ongoing fee disclosure rules.
The Quality of Advice Review is gradually streamlining some of this, but the underlying point hasn’t changed: real advice has real costs behind it. Anyone offering it for $500 either isn’t doing the work properly, or is making the money back through product commissions you can’t see.
The Four Fee Structures You’ll Encounter
There are four ways you might pay for financial advice in Australia. Understanding the difference matters because the same advice can cost very different amounts depending on how it’s structured.
| Fee Structure | How It Works | Pros | Cons |
|---|---|---|---|
| Fixed Fee | Set price for a defined piece of work | Predictable; no surprises | May not reflect complexity |
| Hourly | Pay per hour of adviser time | Fair on simple jobs; transparent | Hard to estimate total cost upfront |
| Asset-Based | Percentage of investments managed (e.g. 1%) | Aligns adviser with portfolio growth | Can become very expensive on large balances |
| Commission | Adviser paid by product provider | No upfront cost to client | Conflicted; banned on most products since 2013 |
Note: the Future of Financial Advice (FOFA) reforms banned commissions on investment and superannuation advice from 1 July 2013. Commissions remain legal on life insurance products.
Real Fee Ranges in 2026
These are the prices you should expect to see across the market in Australia, based on industry surveys and our own observation. Anything significantly below the lower bound usually means a corner is being cut somewhere.
| Type of Advice | Typical Cost (2026) | What’s Included |
|---|---|---|
| Single-issue advice (one topic) | $1,500 – $2,500 | Specific question (e.g. one super rollover or one insurance review) |
| Comprehensive Statement of Advice | $3,500 – $6,000 | Retirement, super, investment, insurance, and estate strategy |
| Complex SOA (SMSF, business owner, blended family) | $5,500 – $10,000+ | Multiple structures, business assets, family law overlay |
| Ongoing advice (annual) | $4,000 – $6,000 | Annual review, portfolio rebalance, regulatory updates, ad-hoc questions |
| Asset-based ongoing fee | 0.5% – 1.1% p.a. | Same as above, scaled to portfolio size |
Sources: ASIC Cost of Advice Industry Survey 2024, Adviser Ratings Landscape Report 2025, IRESS Financial Advice Industry Pricing Study.
What Should Be Included in the Fee
A proper financial advice engagement in Australia covers far more than a one-page recommendation. Here’s what should be in scope when you’re paying market rates:
- A documented discovery of your situation, goals, risk tolerance, and constraints
- Cash flow and net wealth analysis
- Retirement income projections (often using cash-flow modelling software)
- Super structure review — fund, contributions, insurance inside super, fees
- Investment recommendations with full product disclosure
- Insurance review — life, TPD, income protection, trauma
- Estate planning prompts (will, EPOA, binding death nominations)
- Centrelink and Age Pension modelling where relevant
- Tax considerations across the strategy
- A written Statement of Advice you keep
- Implementation of the agreed actions
- An annual review meeting if ongoing
If you’re paying $4,000+ and not getting most of these, the value isn’t there.
Want a clear quote before you commit? We send a fixed-fee proposal in writing after the first conversation, with no obligation.
Hidden Costs to Watch For
The headline advice fee isn’t always the total cost. Watch for these:
Platform and administration fees
If your adviser puts your money on a “wrap” platform (a piece of investment software they administer through), you’ll pay an annual platform fee on top of the advice fee. These typically range from 0.15% to 0.45% of assets per year.
Investment management fees
The funds or model portfolios your adviser uses charge their own fees, usually 0.20% to 1.5% per year depending on whether they’re index, active, or boutique. These come out of your investment returns silently.
Insurance commissions
Life insurance commissions are still legal and can be 60% upfront / 20% ongoing of your annual premium. If your adviser is recommending insurance, ask whether they’re taking a commission and how that affects the recommendation.
Implementation and brokerage
Buying or selling shares, rolling over super, setting up a pension — each comes with small transaction fees that add up. They should be itemised in the SOA.
Cost vs Value: How to Think About This Properly
The right question isn’t “how much does it cost?” The right question is “what’s the cost relative to what I’m trying to protect?”
If you’ve got $400,000 in super and a $5,000 SOA fee, that’s 1.25% of your super balance — paid once, not every year. The decisions in that SOA — your contribution strategy, asset allocation, insurance structure, withdrawal sequence in retirement — could easily be worth $50,000 to $200,000 over the rest of your retirement.
Russell Investments’ annual Value of an Adviser study estimates the typical Australian gets 5.7% per year of additional value from working with an adviser, after fees. The biggest single contributor isn’t market timing or product selection — it’s behavioural coaching during downturns and tax-effective structuring.
That doesn’t mean every adviser delivers that value. It means good advice, properly implemented, almost always pays for itself many times over. Bad or generic advice doesn’t, regardless of price.
How Great Advice Charges
We charge fixed fees, agreed in writing before any work begins. No commissions on investment or super advice. No surprises. Our typical engagements:
- Initial Statement of Advice: $3,500 – $5,500 depending on complexity
- Ongoing advice: $4,500 – $6,000 a year, fixed
- Single-issue advice: $1,500 – $2,500 for specific decisions (super rollover, insurance review, retirement income setup)
You get the quote in writing after the first meeting. There’s no commitment to proceed. If you do, we deliver in full or refund the unused portion. Insurance commissions, where applicable, are disclosed clearly and offset against your fee on request.
That’s it. The whole pricing structure on one page — which is more than most adviser websites give you.
Red Flags When Comparing Advisers
If you’re shopping around, here’s what should make you walk away:
- “It’s free.” It’s not. The cost is just hidden inside a product or commission.
- No written quote before work begins. Anyone licensed should give you a written engagement letter.
- The advice is to put your money in a product the adviser owns or is affiliated with. Possible to be legitimate, but always disclose-and-question this.
- The adviser uses the word “independent” in their marketing. Under section 923A of the Corporations Act, only advisers who meet very specific conditions can use that word. Many who do are technically in breach.
- Any pressure to act quickly. Real advice involves time, analysis, documentation. Pressure to sign on the day is a red flag.
- The Statement of Advice is short or generic. A proper SOA is a 30+ page document tailored to your circumstances, not a 5-page template.
The Bottom Line
Quality financial advice in Australia in 2026 typically costs $3,500–$6,000 for a one-off engagement and $4,000–$6,000 a year for ongoing. Pay less and you’re probably getting less, or the cost is hidden in commissions. Pay more and you’d better be getting genuine complexity (SMSF, business structures, blended family, large estates).
The real measure of value is what’s included, how clearly it’s disclosed, and whether the adviser can explain their reasoning to you in plain English. The fee is just the entry price.
Common Questions
What’s the average cost of a financial adviser in Australia?
For a one-off Statement of Advice covering retirement, super, or insurance, expect to pay between $3,500 and $6,000 in 2026. Ongoing advice usually runs $4,000 to $6,000 a year, depending on complexity. Simple single-issue advice (one super rollover, one insurance review) can come in around $1,500 to $2,500.
Why does financial advice cost so much in Australia?
Compliance. The Corporations Act, ASIC’s Regulatory Guides, and FASEA’s professional standards have added 20–30 hours of admin per Statement of Advice. Advisers also need a degree, ongoing CPD, professional indemnity insurance, AFSL costs, and risk management frameworks. The Quality of Advice Review may simplify this over the next few years.
Is financial advice tax deductible in Australia?
Partially. Initial advice on setting up an investment isn’t deductible — the ATO treats it as capital. Ongoing advice fees relating to existing investments generally are deductible. From 1 July 2025, fees deducted from your super for personal advice are deductible to the fund (TR 2024/D2).
What’s the difference between commission and fee-for-service?
Commission is paid by a product provider to the adviser when you buy the product — your money funds it indirectly. Fee-for-service means you pay the adviser directly for their time and expertise, with no product-related payments. Commissions on investment and super advice were banned in 2013 (FOFA reforms); they remain legal on life insurance.
How do I know if a financial adviser is worth what they charge?
Look at three things: their qualifications (degree-qualified, AFP or CFP designation), their disclosure (clear fee structure in writing before you commit), and the scope of what they cover. The cheapest adviser is rarely the best value, but the most expensive isn’t either. Ask for a sample Statement of Advice to see the depth of analysis.
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General Advice Warning: This article contains general information only and does not take into account your individual objectives, financial situation, or needs. Fee ranges and tax treatments cited are current as at 2026 and may change. Before making any financial decisions, you should consider whether the information is appropriate for your circumstances and seek personal financial advice from a licensed adviser. Great Advice Financial Advisers is a Corporate Authorised Representative of Akumin Financial Planning Pty Ltd (AFSL 232706).
