Ever tried to find a straight answer on financial advice fees and ended up with more questions than when you started?
Why the price varies so much
Financial advice is not a shelf item with a neat sticker price. The cost depends on what you need advice on, how complex your situation is, and whether you want one-off guidance or ongoing support.
A simple insurance review will usually look very different from retirement advice involving super, investments, tax considerations, Centrelink, estate planning, and income needs. That is why the better question is not just ‘what do you charge?’ It is ‘what do I actually receive for the fee?’
Common ways advisers charge
You will usually see fixed fees, ongoing service fees, percentage-based fees, hourly fees, or a mix of these. Fixed fees are often easier to understand because the scope and cost are agreed upfront. Ongoing fees can make sense when you want regular reviews, accountability, and adjustments as life changes.
Percentage-based fees need careful attention. A small percentage can become a large dollar amount as your balance grows. ( we don’t charge this way we are fixed fee)
What should be included
A proper advice fee should cover more than the meeting itself. You are paying for fact finding, strategy development, research, modelling, written advice, implementation support, compliance work, and follow-up guidance.
Good advice can look calm on the surface, but there is usually a fair bit happening behind the scenes. Think less ‘one-hour chat’ and more ‘professional strategy work that happens to include a chat.’
How to compare fees fairly
When comparing financial advice costs in Melbourne, ask what is included, what is optional, whether the fee is one-off or ongoing, and whether any product commissions or referral payments apply.
The cheapest option is not always the best value. Cheap advice that misses a major issue can become expensive very quickly. Fair, transparent, useful advice is the goal.
Low-pressure CTA
If you are trying to work out what financial advice would cost for your situation, a short first conversation can help. No hard sell, just clarity on what you need and whether advice is worth considering.
Why not have a chat to our friendly team? Book a time: https://partnersinplanningaus.setmore.com/book or give us a call on 1300 880 100.