Is financial advice worth it?

Updated on 1 July 2025 | 2 minute read

Thinking about financial advice but not sure what to expect? Let's clear up some common financial advice myths and help you plan for a worry-free retirement.

What is financial advice?

First let's look at the 2 types of financial advice. It's important to know the difference because when we're looking at value for money, we're only looking at personal advice, which you pay for.

General advice (you don't pay extra)

We give this to all our members through tools and resources, like our podcast, webinars and calculators. For example, you can use our general guidance to work out how much super you might need for retirement.

Personal advice (paid service)

This is when a qualified financial adviser gives you advice just for you. They might show you how to grow your retirement savings by changing how your super’s invested, finding you tax savings, and helping you maximise all your finances, not just your super.

While general advice is a great starting point, personal advice can be a real game changer. It helps you make smarter choices about your money, so you can get it working harder.

Now let’s look at some common myths about personal advice. This will help you decide if it's worthwhile for you.

Myth #1: Financial advice is only for later in life

Truth:

A financial adviser can help anyone: whether you’re just starting your working life or you’re close to retirement. And they don’t just cover super.

A financial adviser can also help you:

plan what happens to your money when you die or if you can no longer make financial decisions
guide you through big decisions, like making the change from full-time work to part-time work to retirement
grow your super by putting in extra money before or after tax.

At the end of the day, they’re there to help you come up with a plan that works for you.

Tip: Head to our website to check out your financial advice options.

Myth #2: Financial advice is expensive

Truth:

There's no ‘one size fits all’ approach to financial advice fees.

Some advisers charge a flat fee, and for products outside of superannuation and investments, such as insurance; an adviser may get a commission. But a good financial adviser will break down the charges for financial advice every step of the way and come up with a plan that’s tailored to your circumstances.

So roughly how much does financial advice cost?

Canstar estimates seeing a financial adviser in Australia costs about $3,500 a year on average.

If you’re an Australian Retirement Trust member, you might be able to pay some or all of your advice fees from your super account, for advice that’s about your super with us.

For advice about more than just your super, you might have other ways to lower your costs. For example, advice about investments that earn you money on outside of super could be tax deductible. But it’s best to ask an accountant about this.

Tip: If you’re a member, you get advice about your super account as part of your membership at no additional cost.¹

Book your appointment now

Myth #3: Financial advice is confusing

Truth:

Lots of us don’t know financial jargon and get put off by it. A financial adviser can explain what everything means and create a clear plan that suits you.

Did you know?

Financial advice through your super fund is different from advice from an outside financial adviser.

Check our Advice FAQ section on the website to find out why.

Myth #4: Financial advisers pressure you

Truth:

A lot of the time, a financial adviser’s job is to talk you out of making choices that won’t benefit you financially. Not to sell you a particular product. Their job is to help you figure out what works best for you.

Remember, you can disagree at any time and walk away if you don’t feel comfortable.

3 ways to get the most out of financial advice

Now we’ve cleared up some myths, let's look at how to make the most of financial advice. Here’s how to get started:

Do your research.

Look for advisers with good credentials who specialise in retirement planning. Professional groups like the Financial Planning Association of Australia (FPA) can help you find good advisers near you.
Compare different advisers.

Meet with a few advisers to find someone you feel comfortable with and who understands what you need. Ask questions to learn about their fees, and what they do and don’t give advice on.
Set realistic goals.

Be honest about how you want to live in retirement, and how much money you need. Your adviser will help you bridge any gaps and create an achievable plan.