Financial advice

A financial adviser can help if you're making important financial decisions, navigating a life change or working towards specific goals. You might seek advice when planning for retirement, managing superannuation, investing, protecting your family with insurance, or building a long-term financial strategy.

Not everyone needs the same level of advice. Some people only need guidance on a specific topic, while others benefit from a comprehensive plan and ongoing support. If you'd like greater confidence in your financial decisions or your circumstances are becoming more complex, speaking with a financial adviser could help.

A financial adviser is a qualified professional who provides guidance to help you manage your finances and work towards your financial and lifestyle goals.

They can provide advice on areas such as superannuation, retirement, investments, insurance and estate planning. A good adviser will take the time to understand your circumstances, goals and priorities before recommending strategies and products tailored to your needs.

Depending on the type of advice you receive, your adviser may also provide ongoing support, including regular reviews and updates as your circumstances change.

General advice provides information about a financial product or strategy without considering your personal circumstances.

Personal advice takes your individual objectives, financial situation and needs into account. Because it is tailored to you, personal advice is subject to additional regulatory requirements and documentation.

If you're unsure which type of advice is right for you, an adviser can explain the differences and help you understand your options.

The cost of financial advice varies depending on the type of advice you need, the complexity of your circumstances and the level of support you require.

Some advisers offer a complimentary initial consultation, while others may charge a fee. Always confirm any costs before booking an appointment.

In some circumstances, financial advice fees may be tax-deductible. As tax treatment depends on your individual circumstances, you should seek professional tax advice to determine whether a deduction is available.

If you're looking for a lower-cost option, eligible CFS members may be able to access super advice through FirstNet at no additional cost.

Yes. Many Australian super funds offer advice services to members.

Eligible CFS members can access super advice through FirstNet at no additional cost. This advice can help with matters relating to your existing CFS super account.

If you need advice beyond your super, such as retirement planning, investments, insurance or broader financial strategies, you may need one-off or comprehensive financial advice from a licensed financial adviser.

Your first appointment is focused on understanding your goals, circumstances and the type of support that may be right for you.

Your adviser will discuss your financial situation, explain the advice process and outline any fees before you make a decision about proceeding.

To help your adviser understand your circumstances, you may be asked to provide information about your:

• Income and savings
• Superannuation
• Investments
• Assets and liabilities
• Insurance arrangements
• Living expenses

Some advisers may request these details before your appointment so they can spend more time discussing your goals and priorities.

Choosing an adviser is an important decision, so it's worth asking questions about their experience, services and approach.

Some questions to consider include:

• What services do you provide?
• How do you charge for your services?
• What is your approach to investing?
• How often will we meet?
• Who will be working with me?
• How will you communicate with me?
• How long does the advice process typically take?

The right adviser should be able to explain their recommendations clearly and answer your questions in a way you understand.

Financial advisers in Australia must be authorised to provide financial advice under an Australian Financial Services Licence (AFSL).

You can verify an adviser's credentials through the Australian Government's Moneysmart website, where you can view their authorisations, qualifications and any disciplinary actions.

Checking an adviser's credentials before engaging them can help you make an informed decision.

The time frame depends on the type and complexity of the advice you require.

Simple advice may be provided during your initial meeting or shortly after, and one-off advice may take a few weeks and involve one or two meetings. Comprehensive advice typically takes longer and may involve several meetings, information gathering, strategy development and implementation.

Your adviser should explain the expected timeline during your initial discussions.

Yes. Many advisers offer appointments through video conferencing, phone and other digital channels, as well as in-person meetings.

Online advice is subject to the same regulatory requirements as in-person advice. The format may differ, but advisers are still required to provide advice that is appropriate for your circumstances.

This flexibility allows you to access professional advice in a way that suits your location, schedule and preferences.