If you are earning good money but unsure it is working hard enough, or retirement is closer than it used to be, you are probably wondering whether professional advice is worth the investment.
In many cases, the cost of professional advice may be significantly less than the potential cost of a major financial decision made without guidance.
A single superannuation mistake or missed opportunity pre-retirement or at retirement could have a significant financial impact over the course of your lifetime. A poorly timed investment decision, a missed tax strategy, or simply not having a clear plan can quietly add up in ways many people do not realise until later. A retirement savings calculator can be a useful starting point for understanding whether your current strategy is on track to support your desired retirement lifestyle
What Are You Actually Paying For?
Financial advice is not about selling products or picking shares. It is about having a qualified professional review your full financial picture and build a plan for where you want to go.
Much of the work happens before any recommendation is made: understanding your goals and risk tolerance, gathering detailed financial information, modelling different scenarios, and documenting clear recommendations with the reasoning behind them, and the ongoing adjustment as life, markets and legislation change.
For many people, the real value is confidence, clarity and less financial stress when making important decisions.
Common Financial Advice Fee Types
There is no universal fee for financial advice. Costs depend on the complexity of your situation, the scope of advice and the level of ongoing support required.
According to MoneySmart (ASIC), the common fee types are:
- Statement of Advice (SOA) fee — The upfront cost for your personalised financial plan, reflecting the research, analysis and documentation involved. It may cover retirement planning, superannuation strategy, investment reviews, insurance and estate planning. Indicative range: $3,000 to $6,000+
- Implementation fee — Putting the plan into action, such as opening accounts, transferring superannuation or establishing investments. Without proper implementation, even the best plan remains unrealised. Indicative range: $0 to $3,000+
- Ongoing advice fee — Regular reviews, strategy updates and access to your adviser as circumstances, markets and legislation change. A set-and-forget approach does not work for most people who want to take an active role in improving their financial position. Indicative range: $3,000 to $12,000 per year
- Hourly rate — A fixed fee for one-off questions outside your ongoing arrangement. Indicative range: $400 to $600 per hour
These ranges are drawn from industry data and may not reflect the fees charged by Ascent Wealth Solutions. Your adviser will confirm all fees before any work begins.
Adviser fees are separate from any underlying product, platform or investment costs, which should always be disclosed.
Tip: Ask for your adviser’s Financial Services Guide (FSG) before your first meeting. It outlines fees, services and how complaints are handled.
When Is Financial Advice Most Valuable?
Advice tends to deliver the greatest value when decisions are unfamiliar, complex or difficult to reverse:
- Approaching retirement or planning to reduce work
- Receiving a lump sum (inheritance, redundancy, property sale)
- Managing growing complexity across income, investments and tax
- Navigating life changes such as divorce, business exits or aged care
- Wanting to get organised and feel confident you are on track
Is Ongoing Advice Right for You?
Good financial advice is not a quick fix. It is a professional relationship built on understanding your goals, reviewing strategies over time and adjusting as life changes.
Our advice model at Ascent Wealth Solutions is designed for clients who are looking for comprehensive, ongoing guidance. We specialise in retirement planning, superannuation strategy, investment and wealth generation, and aged care advice.
If you are looking for a single transaction or a quick answer, our model may not be the right fit. But if you want long-term clarity and a trusted partner in your financial decisions, we would welcome the conversation.
The Bottom Line
For many people, financial advice is less about spreadsheets and investment jargon, and more about feeling organised, informed and confident about the decisions they are making.
Sometimes the real value is not just in the strategy itself, but in having guidance and clarity through different stages of life.
You can learn more about Certified Financial Planner® Stephanie Yeung CFP, Stephanie Yeung.
➡ Book a discovery call with Ascent Wealth Solutions to explore your current financial position, future priorities, and whether personalised, ongoing advice is right for you.
This article contains general information only and does not take into account your personal objectives, financial situation or needs. Consider seeking professional advice tailored to your circumstances. Ascent Wealth Solutions Pty Ltd (ABN 38 685 677 141) is a Corporate Authorised Representative (No. 1314931) of Personal Financial Services Ltd (ABN 26 098 725 145), AFSL No. 234459.
Sources:
- Australian Securities and Investments Commission (ASIC). (n.d.). Financial advice costs. MoneySmart.
- Financial Advice Association Australia (FAAA). (n.d.). FAQs: Information to help you understand financial planning.
- Adviser Ratings. (2025, January 30). The true cost of advice: Why your financial adviser isn’t getting rich.
