How to Choose a Financial Planner in Australia: A 2026 Guide
Choosing the right financial planner is one of the most important financial decisions an Australian can make. This guide covers qualifications to check, questions to ask, fee structures to understand, and red flags to watch for.
Why Choosing the Right Financial Planner Matters
A financial planner can help with retirement planning, superannuation strategy, investment portfolios, insurance needs, and estate planning. But not all planners are equal — and choosing poorly can cost thousands in unnecessary fees or poor advice.
In Australia, financial planners must hold an approved degree, pass a national exam, and complete a professional year. They are regulated by ASIC and must be listed on the Financial Advisers Register.
What Qualifications to Look For
- Minimum: A bachelor's degree (or equivalent) in financial planning approved by FASEA
- Registration: Listed on ASIC's Financial Advisers Register (FAR)
- Professional body membership: CFP® (Certified Financial Planner) from the FPA, or equivalent
- Ongoing education: Must complete continuing professional development (CPD) annually
Understanding Fee Structures
Financial planners in Australia typically charge in one of three ways:
- Fee-for-service: A flat dollar amount for specific advice (e.g., $2,500–$5,000 for a Statement of Advice)
- Percentage-based: A percentage of assets under management (typically 0.5%–1.5% p.a.)
- Hybrid: A combination of fixed fees and percentage-based ongoing fees
Always ask for a clear breakdown of all fees before engaging a planner. Under the law, planners must provide a Financial Services Guide (FSG) and fee disclosure statement.
Questions to Ask Before Engaging
- What are your qualifications and how long have you been practising?
- Are you independent or do you represent specific product providers?
- What is your fee structure and total estimated cost?
- Can you provide references from existing clients?
- How do you handle conflicts of interest?
Red Flags to Watch For
- Pressure to make quick decisions
- Reluctance to explain fees in writing
- Not listed on the Financial Advisers Register
- Recommending products from a single provider
- Guaranteeing investment returns
How MyMoney® Can Help
Instead of searching for planners one by one, post a brief on MyMoney® describing what you need. Verified financial planners compete with transparent, scored proposals — so you can compare qualifications, approaches, and fees side by side.
This article provides general information only and does not constitute personal financial advice. Consider whether the information is appropriate for individual circumstances before acting on it. MyMoney® Marketplace is operated by Global Mutual Funds Pty Ltd (ABN 20 090 555 436, AFSL 222640).