How Much Do Financial Advisors Cost in Melbourne? (2026 Guide)

Financial advice in Melbourne covers a broad spectrum of services, from a one-off consultation about superannuation contributions to a fully managed ongoing relationship that spans retirement planning, investment strategy, tax minimisation, insurance review, and estate planning. The fee you pay reflects the scope of that work, the complexity of your financial situation, and the structure your adviser uses to charge for their time.

Costs vary considerably because no two clients have identical needs. A 28-year-old looking to set up a salary sacrifice arrangement and a 55-year-old preparing a transition-to-retirement strategy are both seeking financial advice, but the work involved is entirely different. Add to that the variation between fee structures (hourly, fixed, or percentage-based), the adviser’s qualifications and years of experience, and whether the advice is limited in scope or genuinely comprehensive, and you have a wide price range that can be confusing without a clear guide.

What Do Financial Advisors Cost in Melbourne?

The most commonly cited benchmark for financial advice in Australia comes from research tracking median ongoing service fees. According to Adviser Ratings data referenced across the industry, the median annual fee for ongoing financial advice sits at approximately $3,960 per year. This covers a standard ongoing service arrangement with a licensed financial adviser providing a Statement of Advice, annual reviews, and access to a structured financial plan. Initial advice fees, which cover the preparation of your first financial plan, typically sit between $2,500 and $5,000 as a standalone cost before any ongoing arrangement is agreed upon.

Hourly rates for Melbourne financial advisers generally range from $280 to $500 per hour, depending on the adviser’s seniority and specialisation. Some practices charge a flat fee for specific services, such as $442 to $800 for a superannuation review or $1,200 to $3,000 for a comprehensive retirement income strategy. Percentage-based fees, applied to assets under advice, typically sit between 0.5% and 1.2% of the portfolio value annually. On a $500,000 portfolio, that equates to $2,500 to $6,000 per year, and on larger portfolios the percentage often decreases as the dollar amount rises.

Price Breakdown by Service Level

Service Level	What You Get	Typical Price Range	Best For
Basic / Limited Advice	Single-issue advice on one area (e.g. superannuation, budgeting, or insurance). Statement of Advice provided for that area only.	$280 – $1,500 (once-off or per session)	First-time advice seekers, simple financial situations, young professionals starting out
Standard / Comprehensive Initial Advice	Full financial plan covering goals, assets, liabilities, super, insurance and investment structure. Includes a Statement of Advice and one review meeting.	$2,500 – $5,000 (once-off)	Australians with growing assets, those approaching significant life events such as marriage, property purchase or career change
Premium / Ongoing Advice	Annual financial plan updates, ongoing investment monitoring, tax strategy, insurance reviews, super optimisation, and regular adviser meetings throughout the year.	$3,500 – $7,000 per year	Clients with established portfolios, pre-retirees, those managing superannuation and ordinary investments simultaneously
Complex / High-Net-Worth	Self-managed super fund (SMSF) administration advice, estate planning, business succession, large investment portfolios, and multi-entity structures. Often involves specialist tax and legal coordination.	$7,000 – $15,000+ per year	Business owners, retirees with $1M+ in assets, clients with SMSFs or complex family wealth structures

What Affects the Cost of Financial Advisors in Melbourne?

Fee structure

Melbourne advisers use three main fee structures: fixed fees, hourly rates, and percentage-based fees on assets under advice. Fixed fees give you cost certainty and are increasingly common following regulatory reforms. Percentage-based fees can feel affordable on a small portfolio but become significant as assets grow. Some advisers combine these methods, charging a fixed base fee plus a smaller percentage component. Understanding which structure you are being quoted under is essential before you agree to proceed.

Scope of advice

Limited advice that addresses a single issue, such as whether to consolidate superannuation accounts or review a life insurance policy, costs considerably less than comprehensive advice that maps out a full financial plan. Comprehensive advice accounts for your complete financial situation, needs and goals, including superannuation and ordinary investments, debt management, retirement projections, insurance cover, and tax position. The more areas covered, the more preparation, research and ongoing monitoring is required.

Adviser qualifications and experience

ASIC requires all financial advisers in Australia to be registered on the Financial Advisers Register and to hold a relevant degree-level qualification, pass an exam, and complete continuing professional development each year. Within those requirements, there is still a wide range of experience. An adviser who has been practising for 15 years with a specialisation in retirement income strategies will generally charge more than a newer adviser providing general financial planning services. Members of the Financial Advice Association Australia (FAAA) are held to a professional code of conduct, which some clients factor into their decision.

Portfolio size and complexity

If you are asking an adviser to manage or provide advice on a substantial portfolio that includes shares, managed funds, superannuation and ordinary investments alongside property and business interests, the annual fee will reflect that complexity. Advisers who handle SMSF compliance alongside investment advice are doing a higher volume of regulated work, and the fees reflect that. A straightforward accumulation super balance with a simple salary and no existing investments requires far less ongoing effort than a multi-asset portfolio spread across different ownership structures.

Practice type and location

Large Melbourne advice firms or those operating under a bank or institution’s Australian Financial Services Licence tend to have more standardised fee schedules. Independent or boutique practices set their own pricing and may charge more for a senior adviser’s time, or less if their overheads are lower. Practices in Melbourne’s CBD generally carry higher operating costs than those in outer suburbs, which can influence pricing, though this difference is rarely the primary driver of fee variation.

How to Get Accurate Quotes

1. Check the ASIC Financial Advisers Register at moneysmart.gov.au before approaching any adviser. Confirm they are currently authorised and registered, and review any past compliance actions on their record.
2. Request an initial meeting or discovery call. Most Melbourne advisers offer a no-cost introductory meeting of 30 to 60 minutes. Use this to describe your financial situation and ask the adviser to outline what service level would apply and what the estimated fee would be.
3. Ask for a written fee disclosure statement. Before any advice is provided, advisers are required under Australian law to give you a Financial Services Guide (FSG) and, before proceeding, a Statement of Advice (SOA) that clearly sets out the fees you will pay and why the advice given is appropriate to your situation and needs.
4. Compare at least two or three advisers. Fees for comparable scopes of advice can vary by $1,500 or more annually across different Melbourne practices. Use the FAAA’s adviser search or platforms like Adviser Ratings to find licensed advisers and review their credentials before making contact.
5. Ask specifically whether commissions apply. While conflicted remuneration on most investment products has been banned in Australia, commissions on certain insurance products remain permissible. Ask the adviser directly whether they receive any commission or benefit from recommending particular financial products, and how that is disclosed in your advice documentation.

Red Flags to Watch Out For

• The adviser is not listed on the ASIC Financial Advisers Register or cannot provide their authorised representative number when asked. Operating without proper authorisation is illegal in Australia.
• Fees are presented vaguely or verbally without a written fee disclosure. Any legitimate licensed financial adviser must provide an FSG upfront and a written SOA before you pay for advice.
• The adviser pushes specific financial products in the first meeting before reviewing your full financial situation and needs. Advice that starts with a product recommendation rather than a plan is a warning sign of conflicted advice.
• The ongoing fee is charged automatically via your superannuation account without a signed ongoing fee arrangement and annual renewal confirmation. Since reforms following the Royal Commission into Banking, advisers must get annual written consent to continue deducting fees from super.
• The quoted price is significantly below $1,000 for a “comprehensive financial plan.” Genuinely comprehensive plans that cover retirement, investments, insurance and tax require many hours of preparation and compliance work. Unusually low prices often indicate limited scope, unlicensed advice, or a model that generates revenue through undisclosed product commissions.
• The adviser cannot clearly explain their qualifications, which association they belong to, or who their Australian Financial Services Licence is held under. Every practising adviser must be able to provide this information clearly and without hesitation.

Frequently Asked Questions

How much do financial advisors cost in Melbourne on average?

For ongoing comprehensive advice, the median annual fee across Australia sits around $3,960 per year according to Adviser Ratings data. In Melbourne, ongoing fees for standard clients typically fall between $3,500 and $5,500 per year. A once-off comprehensive financial plan without ongoing service generally costs $2,500 to $5,000. Hourly rates for limited or ad hoc advice range from $280 to $500 per hour depending on the adviser’s experience and the type of advice required.

Why are some financial advisors prices so much cheaper?

Lower prices usually reflect one of three things: a narrower scope of advice (limited to one issue rather than a full financial plan), a less experienced adviser, or a business model that makes revenue through product commissions rather than transparent client fees. Some advisers connected to banks, super funds or insurance providers offer lower upfront fees because they are compensated in other ways when clients take up specific financial products. It is worth understanding the full picture of how an adviser is paid, not just the headline fee, before deciding whether a cheaper option represents good value for your financial situation.

Is it worth paying more for financial advisors in Melbourne?

For straightforward situations, a limited advice engagement at a lower fee may be entirely appropriate. A younger person wanting guidance on budgeting, superannuation contributions and basic insurance cover does not necessarily need a $5,000 comprehensive plan. For those approaching retirement, managing significant assets including superannuation and ordinary investments, or dealing with complex situations such as an SMSF, business sale or inheritance, the value of experienced comprehensive advice generally outweighs the cost by a meaningful margin. Research consistently shows that Australians who receive professional financial advice accumulate more wealth over time and make better decisions during market downturns and life transitions. The key is matching the scope of advice to your actual situation and needs, and confirming your adviser is properly qualified, ASIC-registered, and transparent about fees.

Getting financial advice in Melbourne starts with being clear about what you need, verifying that the adviser you choose is properly licensed and registered with ASIC, and understanding the full fee structure in writing before you commit. Whether you are starting a savings plan, preparing for retirement, or managing a complex portfolio across superannuation and other investments, the right adviser at a fair fee can make a measurable difference to your financial future. Use the price ranges in this guide as a reference point, ask direct questions, and take time to feel comfortable with the professional you choose before signing any ongoing arrangement.

For a curated list of top-rated providers, see our guide: Best Financial Advisors in Melbourne (2026).