Should You Hire a Financial Planner in 2025? Cost, Benefits & Key Trends

For many Australians, the question of whether to engage a financial planner is more relevant than ever in 2025. With superannuation balances growing, property markets shifting, and new regulatory reforms rolling out, financial planning isn’t just for the ultra-wealthy. But is it the right move for your situation—and what’s changed recently that could affect your decision?

Why 2025 Is a Turning Point for Financial Advice

Recent years have seen the financial advice industry undergo major reforms, particularly following the Quality of Advice Review (QAR) and subsequent 2024–2025 legislative updates. These changes have:

• Reduced red tape: Making it easier for planners to deliver more affordable, scaled advice.
• Introduced simpler fee structures: Many planners now offer fixed-fee or subscription models, rather than complex commissions.
• Expanded digital advice: Hybrid and robo-advice platforms are more widely available, lowering the entry point for advice.

For consumers, this means more accessible and transparent options—whether you want a comprehensive financial plan or help with a single goal like buying your first home or maximising super contributions.

What Does a Financial Planner Actually Do?

A licensed financial planner goes beyond picking shares or suggesting savings accounts. Depending on your needs, they might:

• Map out a holistic financial strategy (covering super, tax, insurance, investments, and retirement goals)
• Advise on asset allocation and portfolio management
• Help with budgeting, cash flow, and debt reduction plans
• Guide you through major life events—inheritance, divorce, property purchase, or business exit
• Optimise your tax position and structure your finances for Centrelink or Age Pension eligibility

In 2025, most planners must meet strict fiduciary duties, meaning they’re required by law to act in your best interests. The Australian Securities and Investments Commission (ASIC) maintains a public register where you can verify credentials and disciplinary history.

How Much Does a Financial Planner Cost in 2025?

One of the biggest barriers to seeking advice has always been cost. But the landscape is shifting:

• Comprehensive advice packages: Typically range from $2,200 to $4,500 upfront, with ongoing fees between $2,000 and $4,000 per year. Expect transparent fee disclosure and opt-in annual renewals.
• Scaled or single-issue advice: For help with a specific question (like insurance or super consolidation), fees can be as low as $500–$1,200.
• Digital/robo-advice: Automated solutions can start from $100–$400 for basic investment portfolio advice—though these may not suit complex situations.

Fee-for-service is now the norm, and commissions on investment products are largely banned. Always check exactly what’s included, and request a Statement of Advice before committing.

Who Should Consider a Financial Planner?

While some Aussies can confidently manage their finances solo, others may benefit from professional guidance. You might consider seeing a planner if:

• You’re approaching retirement and want to maximise your super or pension entitlements
• Your financial situation is becoming more complex (inheritance, business, multiple properties)
• You’re unsure about insurance (life, TPD, income protection) or estate planning
• You want to set—and stick to—a clear savings or investment roadmap

For younger Australians, even a one-off session can deliver clarity on setting achievable goals, investing for the first time, or understanding your risk profile.

Choosing the Right Planner: Questions to Ask

Not all planners are created equal, and the 2025 reforms make it easier to compare apples with apples. Before you sign up, ask:

• Are you licensed and listed on the ASIC Financial Adviser Register?
• What are your qualifications and experience with clients like me?
• How do you charge, and are there any ongoing fees or product commissions?
• Can you provide a sample Statement of Advice?
• How will our relationship work—one-off, annual check-ins, or ongoing management?

Transparency is key. Reputable planners will welcome your questions and outline your rights to complaint or recourse if things go wrong.

Case Study: The Impact of Good Advice

Consider Jane, a 42-year-old Sydney professional. In 2024, she paid $2,750 for a comprehensive plan ahead of a career change and property upgrade. Her planner uncovered significant tax savings, optimised her super contributions, and recommended a mix of investments tailored to her risk appetite. By 2025, Jane’s net worth had grown faster than projected, and she reported feeling more confident about her financial future—proof that good advice can pay for itself.