What financial advice costs.
A focused one-off financial advice review usually starts from $1,200. Simple single-issue advice is commonly around $1,500–$2,500, and a comprehensive Statement of Advice is commonly $3,500–$6,500. Ongoing advice is quoted in writing before it starts.
Why does financial advice cost so much?
A modern Statement of Advice typically takes 20 to 30 hours to research, document, and produce. The reforms that followed the Royal Commission, together with ASIC RG 175 disclosure obligations and mandatory education requirements, added significant time and cost to giving compliant advice.
Royal Commission reforms (2018-19) and ASIC RG 175 disclosure obligations
Financial advice in Australia got expensive after the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (2018-19). The reforms and current professional standards that followed, together with ASIC RG 175 disclosure obligations and mandatory education requirements, 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 produce. 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.
How do advisers actually charge, and does it change what I pay?
There are four ways you might pay for financial advice in Australia: fixed fee, hourly, asset-based, or commission. The same advice can cost very different amounts depending on how it's structured.
Future of Financial Advice (FOFA) reforms, 1 July 2013
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.
How much should I expect to pay in 2026?
$3,500 to $6,500
for a comprehensive Statement of Advice, with single-issue advice around $1,500–$2,500 and ongoing advice $4,000–$6,000 a year.
Based on industry surveys and our own observation. Australian market guide, 2026; not a quote
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.
Source check: ASIC Moneysmart explains the main ways advisers charge, including Statement of Advice fees, implementation fees, ongoing advice fees, review fees, hourly rates, fixed fees for service, and asset-based fees. The Great Advice examples below are practical guide ranges, not a quote for your circumstances.
What financial advice usually costs
Advice is priced by how much work it takes. Here is what each kind usually costs in Australia.
What should the fee include, and what hidden costs do I watch for?
A proper financial advice engagement covers far more than a one-page recommendation; if you're paying $4,000+ and not getting most of the listed scope, the value isn't there. The headline advice fee isn't always the total cost.
General information only; transaction costs "should be itemised in the SOA"
Last updated: 6 May 2026. This guide explains one-off financial advice cost, financial advice fees, financial planner fees, and ongoing advice costs in Australia. It is general information only; your written quote should come before work starts.
The short answer: a focused one-off financial advice review usually starts from $1,200. Simple single-issue advice, such as one super rollover or one insurance review, is commonly around $1,500–$2,500. A comprehensive Statement of Advice for retirement, superannuation, investment, insurance, or Age Pension strategy is commonly $3,500–$6,500. Ongoing advice is quoted in writing before it starts.
Most Australians have no idea what financial advice costs because most advisers don't publish their fees. That's a problem worth fixing. We'll cover both the typical market rates in 2026 and how to tell whether you're getting value.
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:
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A documented discovery
Of your situation, goals, risk tolerance, and constraints.
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Retirement income projections
Often using cash-flow modelling software.
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Super structure review
Fund, contributions, insurance inside super, fees.
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Investment recommendations
With full product disclosure.
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Insurance review
Life, TPD, income protection, trauma.
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Centrelink and Age Pension modelling
Where relevant to your situation.
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A written Statement of Advice
You keep it.
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An annual review meeting
If your engagement is ongoing.
If you're paying $4,000+ and not getting most of these, the value isn't there.
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.
Platform fees typically 0.15% to 0.45% and investment fees usually 0.20% to 1.5% of assets per year, on top of the advice fee. General information only.
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.
Is paying for advice actually worth it?
Good advice, properly implemented, almost always pays for itself many times over; bad or generic advice doesn't, regardless of price. The right question is what the cost is relative to what you're trying to protect.
Russell Investments, Value of an Adviser study (annual)
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 (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.
That doesn't mean every adviser achieves 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.
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.
What would Great Advice charge me, and when should I walk away from any adviser?
Fixed fees, agreed in writing before any work begins, with no commissions on investment or super advice. You get the quote in writing after the first meeting and there's no commitment to proceed.
Great Advice typical engagements; quote in writing after the first meeting
We charge fixed fees, agreed in writing before any work begins. No commissions on investment or super advice. No surprises. Our typical engagements:
- Focused one-off financial advice review: usually starts from $1,200 where the scope is narrow and clearly defined
- Initial Statement of Advice: $3,500–$6,500 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 do the work 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.
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 restricted s923A wording in their marketing. Under section 923A of the Corporations Act, only advisers who meet very specific conditions can use those terms. Some firms use them too loosely.
- 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.
If you are weighing up advisers, two pages here go further. Our fees page sets out how we quote in writing before any work starts, and how to choose a financial adviser covers the checks worth doing first. When you are ready, the first meeting is on us. No obligation. Book a time.
The fee is just the entry price.
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.
what quality advice typically costs in 2026. Pay less and you're probably getting less, or the cost is hidden in commissions.
a year. Pay more and you'd better be getting genuine complexity (SMSF, business structures, blended family, large estates).
Common questions
What is a typical one-off financial advice cost?
For Great Advice, a focused one-off financial advice review usually starts from $1,200 where the question is narrow and the scope is clear. A simple single-issue advice job may be around $1,500–$2,500. A comprehensive Statement of Advice covering retirement, superannuation, investment, insurance, or Age Pension strategy is commonly $3,500–$6,500. You should receive a written quote before work starts.
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, professional standards, and licensee compliance obligations add meaningful work to each 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, so 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.
How much does a financial advisor cost in Australia?
A focused one-off financial advice review at Great Advice usually starts from $1,200 where the scope is narrow. Simple single-issue advice is commonly around $1,500 to $2,500, and a comprehensive Statement of Advice is commonly $3,500 to $6,500. You should receive the quote in writing before work starts.
General Advice Warning: This article contains general information only and does not take into account your individual objectives, financial situation, or needs. 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).
