Many assume that financial advice is only for the wealthy—just another way for the rich to get richer.
In reality, financial advice is for anyone looking to take control of their financial future, no matter their income or stage in life.
Think of financial advice like a health check-up for your finances. Just as a personal trainer helps you stay in shape, a financial adviser helps you build financial resilience, avoid costly mistakes, and achieve your financial goals.
Five ways financial advice clients are better off
1. Clarity and confidence in financial decisions
Financial advisers help clients make informed decisions rather than relying on guesswork or emotions. For example, consider a couple in their early 30s who started investing in shares in 2019 to save for their children’s private school fees.
When the market crashed in March 2020, they panicked and sold their shares at a loss.
Had they consulted a financial adviser, they would have been guided to stay invested and avoid a knee-jerk reaction—especially since the market rebounded within a year.
This kind of guidance is crucial at every stage of life, particularly as Australians prepare for retirement. According to the Financial Planning Association of Australia (FPA), in 2022, around 130,000 Australians retired at an average age of 64.8 years, with average superannuation balances of $402,838 for men and $318,203 for women.
Many retirees wonder if they’ve saved enough, and financial advice provides clarity on how to maximize their retirement income.
2. Smart investment and wealth growth
Financial advisers create personalised investment strategies based on individual goals, risk tolerance, and market research. Investing isn't just about picking stocks—it’s about long-term planning.
For those transitioning to retirement, advisers recommend boosting superannuation through concessional and non-concessional contributions. A simple example: an average wage earner contributing $100 per fortnight to their super may only see their take-home pay reduced by $65 (about the cost of a daily coffee). Over 20 years, this small step can lead to substantial long-term gains—a strategy best navigated with expert guidance.
3. Protection for you and your family
Life is unpredictable, and financial planning isn’t just about wealth growth—it’s also about protecting what you have.
Financial advisers help clients with:
Life and income protection insurance to safeguard against unexpected health or employment changes.
Estate planning to ensure assets are distributed according to the client’s wishes.
Retirement planning that balances pre- and post-retirement lifestyles so clients don’t outlive their savings.
4. Retirement planning for a secure future
Australians are living longer, which means retirement savings need to last decades. Yet many don't know how much they'll need or how to structure withdrawals efficiently.
Financial advisers help clients:
Understand tax concessions and government benefits that support retirement income.
Structure pension withdrawals efficiently to reduce tax and increase income.
Manage investments so that retirement funds continue to grow.
Regular financial check-ups are also essential. As the FPA notes, annual reviews with a financial planner help retirees stay on track and adapt to life’s changes, ensuring long-term financial security.
5. More time, less stress
Managing finances alongside a busy life can be overwhelming. A financial adviser does the heavy lifting—researching, analysing, and strategising—so clients can focus on what matters most to them.
Rather than spending hours researching tax strategies or comparing investment options, clients benefit from expert guidance that saves time and reduces stress. This is particularly valuable when transitioning to retirement, where professional advice can help reduce uncertainty and financial anxiety.
Is financial advice worth the cost?
The financial advice industry has changed significantly since the Financial Services Royal Commission of 2017-2019, with stricter regulations protecting consumers. The number of advisers in Australia has dropped from 28,000 in 2018 to just 15,872 in 2023, but the quality of advice has improved.
According to Russell Investments' Value of an Adviser report, financial advisers added an average of 5.2% in value to their clients’ portfolios during the COVID-19 pandemic.
But beyond financial returns, advisers provide reassurance, long-term planning, and expert insights that free clients from financial uncertainty.
Take control of your financial future
Managing your finances alone can be daunting, but you don’t have to do it by yourself.
A financial adviser helps you build wealth, protect your family, and secure your future—all while giving you the confidence to make the right financial decisions.
Investing in financial advice is investing in a brighter future.
Get your free guide
Want to understand the full benefits of financial planning? Download Aspire2Wealth’s guide: The Benefits of Having a Financial Planner to learn how financial advice can help you achieve security, stability, and long-term success.
Sources:
Financial Planning Association of Australia: Five ways that financial advice clients are better off
Financial Planning Association of Australia: Helping clients make the transition to retirement
ASIC: Promoting access to affordable advice for consumers (November 2020)
Russell Investments: Value of an Adviser report
Investor Daily: Advised clients gained more than 5% in 2020
AFR: The wealth adviser exodus has bottomed out (April 2023)
Aspire2 Wealth Advisers Pty Ltd ABN 42 125 897 903 is an authorised representative and credit representative of Charter Financial Planning Limited ABN 35 002 976 294, AFSL and Australian Credit Licence No. 234665.
This website contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.
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