How to Find and Choose a Financial Adviser

Financial advice can have a profound impact on your wealth, retirement, and financial security. The right adviser understands your goals, communicates clearly, and provides advice that genuinely helps you build the future you want.

With 15,151 advisers listed in our directory across Australia, the choice can feel overwhelming. This guide breaks the process into clear steps so you can find an adviser who is the right fit.

Before you start searching, understand the different types of advice available:

General advice: Information about financial products that does not take your personal circumstances into account. No licence is required to provide general information.

Personal advice: Advice tailored to your specific financial situation, goals, and needs. The adviser must hold an Australian Financial Services (AFS) licence or be an authorised representative of a licensee.

Comprehensive financial planning: A holistic review of your entire financial position — investments, super, insurance, tax, estate planning, and debt management. Typically the most expensive but most thorough option.

Single-issue advice: Focused advice on one specific topic, such as choosing a super fund or structuring a mortgage. Often faster and more affordable than comprehensive planning.

There are several ways to find financial advisers:

• My Money Adviser — search by location, service type, and specialisation with real adviser details
• ASIC Financial Advisers Register — the official register to verify any adviser's credentials and history
• Financial Planning Association (FPA) — find FPA members and Certified Financial Planners
• Association of Financial Advisers (AFA) — search for AFA member advisers
• Your accountant or solicitor — professional referrals are a common way to find trusted advisers
• Word of mouth — recommendations from friends, family, and colleagues

Start with location and service type, then narrow down based on your specific needs.

Before committing to any adviser, verify these essentials:

ASIC registration: Check the ASIC Financial Advisers Register at moneysmart.gov.au. This shows their authorisations, qualifications, employment history, and any disciplinary actions.

Qualifications: Since January 2026, all financial advisers must hold an approved bachelor's degree (or equivalent). New entrants since 2019 must also pass the national Financial Adviser Exam and complete a professional year of supervised practice. Look for additional designations like CFP (Certified Financial Planner).

Licence status: Your adviser must operate under an AFS licence — either their own or as an authorised representative of a licensee. Check the licensee is in good standing.

Professional memberships: Membership of the FPA, AFA, or SMSF Association indicates commitment to professional standards and ongoing education.

Insurance: Advisers should hold professional indemnity insurance. This is required by their AFS licence conditions.

When you contact an adviser, ask:

• What are your qualifications and how long have you been advising?
• Are you on the ASIC Financial Advisers Register?
• What services do you specialise in?
• How do you charge — flat fee, hourly rate, percentage of assets, or commission?
• Can you provide a Financial Services Guide (FSG) before we proceed?
• What is your investment philosophy?
• How often will we meet to review my situation?
• What happens if I want to change or end our arrangement?
• Are you independent, or do you have product relationships or ownership ties?
• Can you provide references from existing clients?

A good adviser will answer these openly. If an adviser is evasive about fees, qualifications, or their business model, consider that a warning sign.

Be cautious if an adviser:

• Cannot provide a Financial Services Guide — this is a legal requirement before providing advice
• Is not on the ASIC Financial Advisers Register — they may not be licensed to give personal advice
• Pressures you to invest immediately — you are entitled to take time and compare options
• Guarantees returns — no investment return can be guaranteed
• Recommends products without understanding your situation — a Statement of Advice must be based on your personal circumstances
• Is vague about fees — all costs must be disclosed clearly before you proceed
• Discourages you from seeking a second opinion — you have every right to compare advisers
• Suggests putting all your money in one product — diversification is a fundamental principle

If you experience any of these issues, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA) or contact ASIC on 1300 300 630.

Before implementing any personal financial advice, your adviser must provide a Statement of Advice (SOA). This document sets out:

• The advice being provided and the basis for it
• Your financial situation, goals, and needs as understood by the adviser
• The specific recommendations and why they are appropriate for you
• All fees, commissions, and other costs
• Any conflicts of interest or associations that could influence the advice

Read your SOA carefully before acting on any recommendations. You are not obligated to follow the advice, and you can ask questions or request changes. Keep a copy of all SOAs and related documents.

One of the most important things to know: you are not locked in. You can change financial advisers at any time, for any reason.

If an adviser is not meeting your needs:

• Talk to the adviser first — sometimes issues can be resolved through a conversation
• Check your agreement for any notice periods or exit fees
• Give written notice to end the arrangement
• Request copies of all your records and documentation
• Find a new adviser and set up a new engagement

If you believe an adviser has provided inappropriate advice or engaged in misconduct, report it to AFCA or ASIC.

When you have a shortlist of advisers, compare them on:

• Fees and transparency — are they clear about what they charge and why?
• Qualifications and experience — do they have relevant expertise for your needs?
• Independence — are they truly independent, or aligned with specific product providers?
• Communication style — do they explain things clearly and listen to your goals?
• Service model — how often will they review your situation? Is there ongoing support?
• Technology — do they offer a client portal, app, or regular digital reporting?
• Cultural fit — do you feel comfortable and respected?