When it comes to financial advice, many people ask, "Is it worth paying for a financial planner or adviser?" It’s a valid question.
Often, we think financial planning is just about crunching numbers—like figuring out how much extra to tip into super, managing investment strategies, or calculating retirement savings.
But here’s the truth: a great financial adviser does so much more.
They help you create a roadmap for your financial future, guide you in building generational wealth, and support you in navigating life’s financial twists and turns.
So, let’s dive in: how are Aussies benefiting from financial advice, and what are you missing out on if you go it alone?
The often untapped potential of financial advice
Did you know only 11% of Australians have used a financial adviser in the past year?
That means nearly 9 out of 10 people are managing their finances without professional help—relying instead on sources like Dr. Google or pub mates.
Even worse, 27% of Australians admit to being exposed to financial misinformation, and 31% have acted on incorrect advice. The top sources? Social media (37%) and online searches (20%).
Without expert guidance, it’s easy to get stuck or make costly mistakes.
But with the right help, you can turn things around.
5 common barriers to seeking financial advice
So, why do many Aussies hesitate to get financial advice?
Here’s what the research says according to AMP's 2024 Financial Wellness Report:
46% feel the cost is too high.
34% think their finances are simple enough to manage themselves.
33% prefer to make their own financial decisions.
24% believe they’re capable of managing their finances without help.
20% don’t trust others to handle their money.
But here’s the thing: without professional advice, you might miss opportunities to build generational wealth or safeguard your financial future.
3 key ways financial advisers are helping Aussies
1. Helping you set and achieve goals
Financial advisers don’t just recommend an investment strategy—they help you set and reach meaningful financial goals. Whether it’s saving for your first home or planning for a comfortable retirement, advisers can give you clarity and confidence.
The numbers speak for themselves: 21% of Aussies with clear financial goals have worked with a financial adviser, compared to only 9% of the general population.
2. Helping you ease financial stress
Managing money can be stressful, but financial advice can ease the pressure. Only 16% of Australians with an adviser feel severely or moderately stressed, compared to 30% of those without one.
Plus, nearly two-thirds (64%) of people receiving advice feel capable of managing daily financial stress, compared to just 43% of the general population.
3. Helping you build generational wealth
Advisers are experts at focusing on long-term goals.
Whether it’s planning mortgage repayments, creating an emergency fund, or securing financial security for your family, they help you position yourself for a brighter future.
By building generational wealth, you’re not just improving your own life—you’re creating a legacy for future generations.
Why financial advice matters for your mental wealth
Your finances don’t just impact your wallet—they affect your mental health too. Research shows a strong connection between financial stress and overall mental wellbeing.
While 48% of Australians rate their mental well-being as “good,” that number drops to just 22% among those experiencing financial stress. Working with an adviser can help you regain control, reduce stress, and feel more positive about the future.
We can help you retire well
Retirement planning can feel overwhelming, but it doesn’t have to be. A financial adviser can guide you through innovative retirement income solutions and investment strategies designed to meet your needs.
Take the first step with a no-obligation financial health check
Are you ready to take control of your finances, reduce stress, and start building generational wealth? Start today with a no-obligation financial health check.
We’ll sit down with you to assess your current financial situation, discuss your goals, and outline simple, actionable steps to improve your financial wellbeing. There’s no pressure—just an opportunity to see how professional advice can help you achieve your goals.
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