If you’re exploring professional financial advice in 2026, one of your first questions will be: how much does it actually cost? The answer depends on your circumstances, but the more important insight is this: financial advice should deliver value that far exceeds its price tag. As Kent Thomas, Certified Financial Planner and Senior Financial Planner at Lifelong Wealth, explains: “The benefit of good financial advice is either quantifiable, like tax savings and better returns, or emotional, like peace of mind and confidence to make decisions. In both cases, the cost should feel worth it.”
This guide breaks down the real costs, fee models and value of financial advice in Australia today, with guidance from our team at Lifelong Wealth.
How Financial Advisers Charge in Australia
Fee-for-service is the most transparent and flexible fee model for financial advice in Australia, and it is the model we use at Lifelong Wealth. Rather than commissions or scaling percentage-based fees, clients pay only for the time and expertise involved in preparing personalised advice and implementing their plan. This is typically structured as:
- Project-based pricing: quoted upfront once we understand your goals and the work required.
- Hourly rates: typically ranging from $110 to $550 per hour, depending on the experience of the financial planner involved.
- Asset Based Fees: this model charges a fee based on a percentage of the funds under management, typically 0.8% to 1.1%
Kent Thomas explains: “We quote our costs upfront, whether for a standalone financial plan or for ongoing advice under our 12-month Fixed Term Agreements. We encourage clients to view this as a business decision – if the benefits of the advice outweigh the costs, it makes sense as good value for money.”
Typical Costs for Financial Advice in Australia
|
Fee type |
What it covers |
Indicative range |
|
Statement of Advice (SOA) fee |
Your personalised financial plan – research, modelling and documentation |
$3,000–$8,000+ |
|
Implementation fee |
Setting up accounts, transferring super, actioning recommendations |
$0–$3,000+ |
|
Ongoing advice fee |
Regular reviews, strategy updates and access to your adviser |
$3,000–$12,000+ per year |
|
Hourly rate / fee-for-service |
One-off questions or specific tasks |
$110–$550 per hour |
According to Adviser Ratings’ 2025 Australian Financial Advice Landscape report, the median ongoing advice fee across Australia reached approximately $4,668 in 2025 (Adviser Ratings, 2025)
What Affects Your Quote
A handful of factors shape what you will pay:
- Service inclusions: whether the fee covers research, modelling, documentation and follow-up.
- Adviser seniority: a senior Certified Financial Planner typically costs more than junior support staff.
- Complexity: advice spanning superannuation strategy or retirement planning generally involves more work than a single, straightforward question.
As Kent Thomas puts it: “A lower quote might apply to a familiar, straightforward case handled by support staff. A higher quote typically involves bespoke work, more risk, or liaison with lawyers or accountants. Multiple structures or taxation issues would add to the time and costs involved.”
A recently released Benchmarking reporting of Australian advisers by VBP suggested that for a retiree couple with $780,000 across 2 allocated pensions the average fee charged would be $6,630 p.a.
Is Financial Advice Worth the Cost?
The real question is not what does it cost, but what do you get back in return. Strategic tax planning, better investment alignment or simply freeing up time and stress can all deliver returns that outweigh the fee. Kent Thomas notes: “It’s not uncommon that the savings from tax and super structuring alone more than cover the advice fees – before factoring in the additional gains from avoiding poor decisions and mistakes.
Frequently Asked Questions
Costs vary by service and complexity, but most Australians pay between $3,000 and $8,000 for an initial plan, plus ongoing fees if required. At Lifelong Wealth, we check our pricing annually against both industry benchmarks and our expected expenses to make sure we are pricing appropriately and fairly
Industry-wide, the median ongoing advice fee was around $4,668 in 2025 (Adviser Ratings, 2025). Your actual fee depends on the scope and complexity of your advice.
Fees for managing existing investments or ongoing tax-related advice may be deductible; fees for an initial financial plan generally are not. Speak with your adviser or accountant about your specific circumstances.
Fee-for-service means you pay only for the time and expertise involved, with no product commissions. This is the model Lifelong Wealth uses, so recommendations are not influenced by product sales.
Yes. More specialised advice, such as superannuation strategy or retirement income planning, typically involves more research and modelling than single-issue advice.
For many Australians, yes, particularly when tax savings, better investment structuring or avoided mistakes outweigh the fee. It depends on your circumstances and goals.
We quote upfront after an obligation-free discussion about your goals, so you know the cost before any work begins.
Get a Clear, Upfront Quote
Tailored advice from a Certified Financial Planner gives you access to more than technical expertise – it gives you confidence and measurable outcomes. Wondering what financial advice might cost for your situation? Book a free 15-minute discovery call with Kent Thomas or any of our expert team of CFPs and Financial Planners.
