Financial advice

A financial adviser can be invaluable if you need help working towards your financial goals. That said, not everyone needs the same level of support. You might only need advice on one specific area of your finances. And if your finances are straightforward and you’re confident in your financial knowledge, you may not need advice at all.

But if situation is more complex, or you’d like help reaching your financial goals and support to stay on track, speaking to a financial adviser could help.

Why might I need a financial adviser?

We can help you find an adviser who suits your life stage, goals and financial needs.

If you’re looking for comprehensive advice, use our Find an adviser tool to search for a financial adviser near you. 

For one-off advice about your super, pension or investments, you can book an appointment with our guidance team who will arrange a meeting with an adviser.

If you’re after super advice, you may be eligible for expert super advice from a Colonial First State adviser. As a member, you can access this service by logging into FirstNet and selecting Get super advice.

You can also speak to our guidance consultants, who can provide general advice and discuss what financial advice options are available to you.

As with other professional services, such as lawyers or accountants, the cost of financial advice will vary depending on several factors. These include the complexity of your financial situation, your goals, the type of advice you receive, and your adviser’s experience.

The best way to find out how much advice will cost is to speak with an adviser and review their Financial Services Guide to see how they charge.

How much does a financial adviser cost?

Before your first meeting with a financial adviser, it’s smart to write down your questions. Things you can ask them about include:

• their qualifications and what they specialise in
• how they’ll work with you 
• how often you’ll need to see them
• how they choose products and whether they get any commissions or incentives
• how they’ll manage your investments
• what information they’ll provide 
• how they’ll handle any questions between meetings
• the cost of their advice

Make sure you understand the product or advice they offer and how it will help you meet your financial goals. Don’t be afraid to ask as many questions as you need to before agreeing to any service.

Financial advisers may choose to specialise in certain areas, such as investments, pre-retirement and retirement, women investors, aged care, business and estate planning.   

Different kinds of advisers

Before meeting with a financial adviser, think about your financial goals and the areas you want advice on - such as insurance, investing, budgeting, retirement or reducing debt. Consider what you need financially, like protecting your income, saving for a home, or building your retirement savings. Don’t forget your goals and lifestyle wants too, such as retiring earlier or having more free time.

It also helps to gather practical details, including a list of your assets and debts, and your income and expenses. Finally, prepare a few questions to ask your adviser so you can make the most of the meeting.

What should I ask my adviser?

A financial adviser has the knowledge, expertise and experience to help you come up with a strategy and a plan of action to reach your financial goals.

Advisers can also offer peace of mind. They can help you avoid making financial decisions based on fear, so you stick to your financial plan.

If you’re a CFS member, you may be eligible for personal super advice at no extra cost. You can access this service by logging into FirstNet and selecting Get super advice.

For general advice, you can speak to our guidance consultants. They can provide general advice about a range of different topics and point you in the right direction to find articles, tools and calculators that can assist you with understanding your financial situation.

For general information, check out ASIC’s Moneysmart website, where you can learn more about financial topics such as budgeting, loans and debt, super, retirement, insurance, banking and more. You can also find valuable online tools to help you budget, manage your money, clear debt and build savings. 

If you’re experiencing financial hardship, you may wish to speak with a financial counsellor. Their services are free, and they can provide advice about getting out of debt, dealing with creditors and getting other support.