One of the first questions people ask when considering a financial planner is: how much will this actually cost? It’s the right question. Professional financial advice is a service, not a product, and fees vary significantly based on what you need, how complex your situation is, and the structure of the firm you engage.
This guide explains the most common financial planner fee structures in Australia, gives realistic cost ranges for 2025–26, and helps you assess whether the investment is right for your situation.
Fee structures in Australia
Australian financial planners are required by law to disclose their fees upfront, before you commit to any advice. The Corporations Act 2001 and the FASEA Code of Ethics govern how advice fees are charged. Here are the main structures you’ll encounter:
1. Hourly rate
Typical range: $300–$600 per hour
Hourly billing suits clients seeking advice on a specific issue: a question about their super fund, a one-off tax planning discussion, or a second opinion on an investment decision. It isn’t generally used for comprehensive or ongoing advice engagements.
2. Flat fee for a Statement of Advice
Typical range: $3,000–$8,000
Most comprehensive financial planning engagements begin with a Statement of Advice (SOA). This is a legally required document that outlines your financial situation, goals, and the specific strategies recommended. The SOA fee covers the planner’s time to gather your data, model your situation, research appropriate strategies, and prepare the advice document.
More complex situations sit at the upper end of this range: SMSFs, business succession, high-net-worth estate planning, and insurance restructures.
3. Ongoing service fee
Typical range: $3,000–$10,000+ per year, or 0.5%–1.5% of assets under management
If you engage a planner for ongoing advice and portfolio management, you’ll typically pay an annual fee that covers:
- Annual review meetings
- Proactive strategy updates when legislation changes
- Rebalancing or investment adjustments
- Access to the planner between reviews for ad hoc questions
Ongoing fees are often expressed as a percentage of assets under advice. For example, 1% on a $600,000 portfolio equals $6,000 per year. Many firms cap these fees or offer flat-rate ongoing packages, which are generally better value for larger portfolios.
4. Fee for service
Fee-for-service advisers charge only for the advice they give. They don’t receive commissions from product providers. Since the Future of Financial Advice (FOFA) reforms, conflicted remuneration on most investment products has been banned in Australia. Commissions on some life insurance products remain permitted, though.
When engaging an adviser, ask explicitly whether they receive any remuneration beyond your direct fees.
Typical fees at a glance
| Service type | Typical cost (2025–26) |
|---|---|
| Initial consultation (60–90 min) | Often free, or $300–$500 |
| Statement of Advice (standard) | $3,000–$6,000 |
| Statement of Advice (complex) | $6,000–$10,000+ |
| Ongoing advice — annual fee | $3,000–$8,000/year |
| Ongoing advice — AUM-based | 0.5%–1.5% of assets/year |
| Hourly consultation | $300–$600/hour |
| SMSF setup advice | $2,000–$5,000+ |
What is and isn’t included
Typically included:
- Financial needs analysis and data gathering
- Modelling of your financial position and retirement projections
- Preparation of the Statement of Advice
- Strategy recommendations (super, tax, insurance, investments)
- Implementation assistance (e.g. completing fund transfer paperwork)
- Review meetings and strategy updates for ongoing clients
Typically not included:
- Platform fees charged by investment platforms
- Managed fund management expense ratios (MERs)
- Insurance premiums (the premium is separate from the advice fee)
- SMSF audit and accounting fees
- Legal fees for estate planning documents
Always ask your adviser for a full cost summary, including third-party fees, so you can assess the all-in cost, not just the advice fee.
The cost of not getting advice
Financial planning fees can feel significant upfront. But it’s worth considering what poor or absent financial decisions cost over a lifetime.
Tax inefficiencies
Without advice, Australians commonly miss salary sacrifice opportunities that could redirect $5,000–$15,000 per year into super at a 15% tax rate rather than their marginal rate. They may structure investments through the wrong vehicle, triggering unnecessary CGT, or fail to claim personal deductible super contributions as a self-employed person.
Investment underperformance
Research by Vanguard (Advisor’s Alpha) consistently shows that behavioural coaching adds 1.5%–2% per year to long-term returns. That means helping clients stay invested during downturns rather than panic-selling. Compounded over 20 years on a $500,000 portfolio, that’s significant.
Missed super strategies
- Concessional carry-forward provisions allow Australians with balances below $500,000 to carry forward unused cap space for up to five years. Many people are unaware of this.
- The First Home Super Saver Scheme allows voluntary super contributions to be withdrawn for a first home deposit.
- Transition-to-retirement strategies can reduce tax while boosting super near retirement.
Insurance gaps
Many Australians are underinsured. Without a review, income protection, life cover, or total and permanent disability insurance may be inadequate, leaving families exposed. A dedicated insurance advice review can identify gaps and restructure cover efficiently.
How to assess value, not just cost
A straightforward way to assess whether financial advice is worth engaging is to compare the cost against the measurable benefit.
Example: A 45-year-old with $450,000 in super and $120,000 salary engages a financial planner. The advice identifies:
- A salary sacrifice opportunity saving $4,200/year in income tax
- A super investment switch improving projected long-run returns by 0.5% per annum
- A life insurance restructure achieving the same cover for $800/year less
That’s roughly $5,000/year in measurable benefit against an ongoing advice fee of $4,500/year, plus compounding investment benefits over 20 years.
Not every engagement will produce this kind of return, but modelling your specific situation before committing to advice is a reasonable step. A good planner will run this analysis before you sign anything.
What to look for in a financial planner
- Qualifications. Look for a Certified Financial Planner® (CFP®) designation or equivalent. The CFP mark is the international benchmark.
- Licensing. Your planner must be an authorised representative of an Australian Financial Services (AFS) licensee. Check ASIC’s Financial Adviser Register.
- Independence. Ask how the planner is remunerated and whether they have any product affiliations.
- Experience. Ask specifically about experience with situations similar to yours, whether that’s retirement planning, SMSF, business succession, or whatever your primary need is.
- Integrated advice. If you also need accounting or lending advice, an integrated firm can often deliver better outcomes than using multiple unconnected specialists.
Financial planner fees at AGS
At AGS Financial Group, we operate on a transparent fee-for-service basis. Before commencing any advice engagement, we provide a Financial Services Guide (FSG) and a Fee Disclosure Statement that sets out exactly what you’ll pay and what you’ll receive.
Our financial planning fees are consistent with the market ranges outlined in this article. Complex situations, including SMSF strategy, estate planning integration, and business succession, are quoted individually based on scope.
We offer a free initial discussion with no obligation so you can meet the team, understand how we work, and assess whether we are the right fit before committing to any fees.
Book a free initial discussion or call us on (02) 9966 8188.