5 Reasons to Use a Financial Advisor, And When You Actually Need One
Whether you’ve got too much money and don’t know what to do with it (boo hoo), not enough (there’s never enough, is there?), or somewhere in between, finances can be intimidating. What you do with your precious pennies goes beyond just wanting more of it. Your financial decisions should feel aligned with your personal values, your life stage, and where you actually want to end up.
If you’ve been wondering why do I need a financial advisor or when should I see a financial advisor, the honest answer is: probably sooner than you think. We work closely with our partners at Inovayt Finance because we’re on the same page when it comes to client relationships, honest advice, and not making finance any more complicated than it needs to be. Here are five solid reasons to use a financial advisor, plus a practical section on what they can do for you at the end of financial year.
Key Highlights
- Reasons to use a financial advisor: Peace of mind, tax planning, retirement, asset allocation, and navigating life changes are the five most common and most valuable reasons Australians seek financial advice.
- When should I see a financial advisor? At any major life event, starting a family, buying property, getting a pay rise, approaching retirement, and at the end of every financial year.
- EOFY 2025–26: A financial advisor can help you maximise super contributions (concessional cap is $30,000), review investment strategies, and reduce your tax position before 30 June.
- Cost of advice in 2025: The median ongoing financial advice fee in Australia reached approximately $4,668 in 2025. One-off strategic plans are available and often the most cost-effective starting point.
1. You’re a Stressed-Out ‘What If’-er
Peace of mind comes from more than a yoga class. Whether you have a plan or not, financial security means a lot less stress around those ‘what if’ questions that pop up uninvited. You want to retire at 60, but what if you get to 52 and only want to work another year or two? You’re saving for something big, but what if an incredible investment opportunity comes up when you’re only halfway to your goal?
A financial advisor can make recommendations that give you flexibility and maximise your ability to grow, and access, your money when it matters. They guide you based on your risk profile: how comfortable you are with taking risks, so you don’t end up with investments or decisions that keep you up at night. A good advisor understands that people under pressure don’t act on logic alone. They keep your worries in check with fact-based, personalised advice, and they’re legally required by ASIC to act in your best interests.
2. You Feel Like You Pay a Lot of Tax
We knew that’d get your attention. Tax is a necessary evil that can feel like a real drag on your take-home. A financial advisor isn’t just there to help you plan for the long term, one of the key reasons to use a financial advisor is tax planning. While we at Future Advisory specialise in tax planning for businesses, Inovayt have the personal finance angle covered too.
Structuring your finances to maximise after-tax income opens up options around salary packaging, superannuation contributions, investments, and tax-deductible debt. This is not a battle you’ll face alone when you have a financial advisor in your corner, cue the superhero music.
How a Financial Advisor Can Help You at the End of Financial Year
The end of the financial year (30 June) is one of the most important, and most underused, windows to improve your financial position. A financial advisor earns their keep around EOFY by helping you act before the deadline, not scramble after it. Here’s what they can do for you before 30 June each year.
Maximise Your Superannuation Contributions
The concessional contributions cap for 2025–26 is $30,000. This includes employer Super Guarantee contributions, salary sacrifice, and personal contributions for which you claim a tax deduction. Making additional contributions before 30 June can meaningfully reduce your taxable income. If your total super balance is under $500,000, you may also be eligible to carry forward unused concessional caps from the previous five years, a strategy most people don’t know they have access to.
Spouse Contribution Tax Offset
If your spouse earns under $40,000, contributing to their super before 30 June can earn you a tax offset of up to $540. It’s a simple strategy that grows their retirement savings and reduces your tax at the same time. Your financial advisor can check whether you’re eligible and how to structure it.
Review Investment Timing and Capital Gains
If you’ve sold investments or are considering selling, the timing matters. A financial advisor can help you understand the capital gains implications and whether it makes sense to act before or after 30 June. This is especially relevant for shares, investment properties, and managed funds.
Salary Packaging and Salary Sacrifice Review
EOFY is the ideal time to review whether your salary packaging or salary sacrifice arrangement is still optimised for your income level and tax rate. Small adjustments can have a big impact across a full financial year, but you need to act before 30 June to apply them to the current year.
Personal Deductions and Record-Keeping
A financial advisor working alongside your accountant can help you identify deductions you might have missed, work-from-home expenses (70 cents per hour for 2025–26), income protection insurance premiums, investment-related costs, and more. Good record-keeping throughout the year is what makes this easy rather than stressful.
Reset Your Plan for the New Financial Year
EOFY isn’t just about looking back, it’s your best planning moment for the year ahead. A financial advisor can review your cash flow strategy, insurance coverage, investment mix, and goals to make sure you’re set up for FY2025–26 with momentum rather than guesswork.
Important: Super contributions must physically clear your fund’s account before 30 June to count toward the current financial year’s cap. Don’t leave this to the last day, allow at least 3–5 business days for processing.
3. You Love TikTok (But You Haven’t Thought About Retirement)
Now that we’ve got the attention of our under-35s, let’s talk about retirement. Don’t scroll past this. We know retirement can feel like a future-you problem (it literally is), but your ability to plan for it now will make the road to a work-free life far less turbulent and far shorter.
Like any long-term goal, your financial advisor can assess your current retirement expectations, work out how much that will realistically require, and give you the roadmap to get there. The same thinking applies to your big-picture goals, opening a business, buying a property by the beach, or building a passive income stream that lets you travel more. A financial advisor connects your present decisions to your future lifestyle, not just your current bank balance.
4. You Need Help Allocating Assets
Big players in the world of assets include bonds, shares, cash, and real estate. You may already be balancing them, or be firmly wedded to one over the others. Home ownership is often the first asset most of us consider, but property is far from your only option (although our partners at Inovayt do specialise in mortgage broking, winner winner).
Diversifying across a broad range of asset classes is one way to manage risk, but it can feel overwhelming if you think of soup when someone mentions stock. A financial advisor comes armed with the knowledge to help you balance risk and return across one or many types of assets. They can also help you avoid the most common mistake: concentrating too much wealth in a single asset class, like a home, while neglecting super, investments, or liquid savings.
5. You Had a Plan, But Things Have Changed
You may have purchased shares and an apartment 10 years ago as a single person, but now you’ve got kids, a different income, and slightly different priorities. Or perhaps some investments have grown more volatile than you’d expected and you want to give your portfolio some more stability. What you need is a rebalance, adjusting the weightings of your assets to reflect where you are now, not where you were then.
Life events that commonly trigger a visit to a financial advisor include:
- Getting married or separating
- Having children or becoming a carer
- A significant pay rise or career change
- Buying or selling property
- Receiving an inheritance
- Approaching retirement or transitioning out of full-time work
- Starting or selling a business
- A health event that changes your income or insurance needs
At any of these moments, a financial advisor can help you update your plan so that it still works for the life you’re actually living, not the one you had five years ago.
We live in the world of finance and we believe in the power of educated planning to secure your financial future. We also know there are people out there who are motivated to follow their own guidance when it comes to money, and we love that too.
However, for the majority of people we encounter, good intentions and good results are not the same thing. Ask yourself: if I’m not working with a financial advisor, will I actually do it myself?
Meet our team and find out more about our services here. We have offices in Cremorne, Narre Warren, Melbourne CBD, and the Sunshine Coast.
Frequently Asked Questions About Financial Advisors in Australia
The questions we get asked most, answered plainly, without the finance-speak.
Why do I need a financial advisor?
A financial advisor helps you make better financial decisions across investing, superannuation, tax planning, insurance, and retirement, tailored to your actual goals and circumstances. While you can technically manage money yourself, an advisor brings expertise, accountability, and an objective view that most people struggle to replicate on their own. Research consistently shows that people with a financial plan accumulate more wealth over time than those without one. In Australia, all financial advisors providing personal advice must be licensed by ASIC and are legally required to act in your best interests.
When should I see a financial advisor?
There’s no single right time, but some of the most valuable moments to see a financial advisor include: when you start your career and want to get your super and savings strategy right early; when a major life event happens (marriage, kids, divorce, inheritance, property purchase); when you’re approaching retirement; and at the end of every financial year. As a general guide, the best time to start is whenever you have a financial goal you’re not sure how to reach.
What are the main reasons to use a financial advisor?
The five most common reasons Australians use a financial advisor are: reducing stress and gaining financial clarity; minimising tax through smart planning; building a retirement strategy; managing and diversifying assets; and navigating life changes that require a financial reset. EOFY is also a specific high-value moment where an advisor can help you maximise super contributions, review deductions, and plan for the year ahead.
How can a financial advisor help me at the end of financial year?
Before 30 June each year, a financial advisor can help you: make additional concessional super contributions (up to the $30,000 cap for 2025–26); explore carry-forward unused super cap amounts; review salary sacrifice arrangements; time the sale of investments to manage capital gains tax; check spouse contribution eligibility for a tax offset of up to $540; and review deductions you may have missed. Acting before 30 June is critical, most of these strategies cannot be applied retrospectively.
What is the difference between a financial advisor and an accountant?
An accountant (like the team at Future Advisory) focuses on tax compliance, business structure, bookkeeping, and tax return preparation. A financial advisor focuses on wealth strategy, investments, superannuation, insurance, retirement planning, and estate planning. The two roles work best together: your accountant ensures your tax affairs are in order, while your financial advisor ensures your broader wealth is growing in the right direction. Many of our clients work with both.
How much does a financial advisor cost in Australia?
The median ongoing financial advice fee in Australia reached approximately $4,668 in 2025, according to Adviser Ratings data. More comprehensive or complex plans can range from $7,000 to $10,000 annually depending on your financial stage. Many advisors also offer one-off strategic plans at a lower fixed cost, ideal if you want a snapshot and roadmap without committing to ongoing fees. Always ask for a clear scope, a written fee breakdown, and how conflicts of interest are managed before you proceed.
Do I need a financial advisor if I already have an accountant?
Possibly yes, they do different things. Your accountant manages your tax obligations and compliance. A financial advisor manages your wealth strategy: where your money is invested, how your super is structured, what insurance you hold, and how you’ll fund retirement. If you’re just starting out or have straightforward finances, your accountant may be enough for now. But as your income and assets grow, having both working together tends to produce significantly better outcomes.
How do I find a trustworthy financial advisor in Australia?
Check that the advisor holds an Australian Financial Services (AFS) licence or is an authorised representative of a licensed firm, you can verify this on ASIC’s Financial Advisers Register at moneysmart.gov.au. Look for fee-for-service advisors (who charge you directly) rather than commission-based advisors (who may be incentivised to recommend certain products). Ask for their Financial Services Guide (FSG), which must disclose their fees, services, and how they handle conflicts of interest. Referrals from your accountant, lawyer, or trusted friends are also a strong starting point.
Not sure where to start? Get in touch with the Future Advisory team, we can point you in the right direction and connect you with the right people for your situation.
