The average cost for a financial advisor in Australia is around $3,500 per year, with comprehensive financial advice typically ranging between $5,000 and $8,000 per year depending on complexity. Some charge a 1% to 5% fee on a portfolio asset under management.
In Australia, financial advisors typically charge $2,500–$3,500 for an initial plan and $3,000–$7,000 per year for ongoing advice, with some also offering hourly rates between $150–$400 depending on the service.
Embarking on a journey towards financial stability often involves seeking guidance from a professional, and hiring a financial advisor is a popular choice. Hiring a financial advisor can be a valuable investment in managing your wealth, planning for the future, and making informed financial decisions.
However, the cost of financial advisory services varies based on factors like the advisor’s experience, the type of service you need, and the fee structure they use. Whether you're looking for one-time advice, ongoing wealth management, or retirement planning, understanding these costs is essential to ensure you’re getting the best value for your money.
Financial advisors typically charge in different ways, including hourly fees, flat rates, commission-based structures, or a percentage of assets under management (AUM). The cost can range from a few hundred dollars for basic consultations to thousands per year for full-service financial planning. This guide will break down financial advisor costs, helping you determine the best option for your needs and budget.
While the cost of hiring a financial advisor is an important consideration, the value they bring to your financial well-being cannot be overstated. By understanding the factors influencing costs and the various fee structures, you can make an informed decision that aligns with your financial goals.
Remember, the benefits of having a knowledgeable ally in your financial corner often outweigh the associated costs in the long run.
Costs of various services and materials in this cost guide should be taken as estimates. These depend on location, preference and demands in the market.
Yes, some charge $150–$400 per hour, usually for one-off consultations or specialised advice rather than full financial planning.
Common structures include hourly rates, flat fees, percentage of assets under management (AUM), or ongoing service fees.
Generally, fees related to investment advice and income-producing assets may be deductible, but personal financial planning (like budgeting or insurance advice) usually isn’t.
Compare at least three advisors, check ASIC’s Financial Adviser Register, and ensure their services match your financial goals before committing.