How to Choose a Financial Adviser

Choosing a financial adviser is one of the more important financial decisions you will make. The right adviser can help you build wealth, protect your family and navigate complex financial decisions with confidence. The wrong one can cost you money, time and significant stress. Knowing what to look for before you commit makes all the difference.

Start with registration

Before anything else, confirm that any adviser you are considering is currently registered on the ASIC Financial Advisers Register. In Australia, it is illegal to provide personal financial advice without being registered. Registration is not optional and it is not a formality - it requires the adviser to hold an approved degree qualification, pass a professional exam and complete ongoing continuing professional development every year.

Checking registration takes about two minutes. You can search the register directly through ASIC's MoneySmart website, or use this directory to find registered advisers in your area and verify their details. Our guide on how to verify a financial adviser's ASIC registration walks through exactly what to look for.

Check for disciplinary history

The ASIC register also shows whether any regulatory action has been taken against an adviser - banning orders, suspensions, licence conditions and other disciplinary outcomes. This information is publicly available and should always be checked before you engage anyone. An adviser with a clean record is not automatically better than one who has faced disciplinary action - context matters - but you should know what is on the record before making a decision.

Our guide on how to check a financial adviser's disciplinary history explains what the different types of action mean and how to find them.

Look at their authorisations

Not all financial advisers are authorised to advise on the same products. An adviser may be authorised for superannuation but not life insurance, or for managed investments but not self-managed superannuation funds. Before you engage an adviser, check that they are authorised to advise on the areas relevant to your situation.

Each adviser profile on this directory shows their full list of authorisations drawn directly from the ASIC register. If you need advice on a specific area - superannuation, SMSFs, life insurance or tax financial advice - you can filter advisers by authorisation type when browsing the directory.

Consider their experience

Experience is not the only measure of a good adviser, but it is a useful one. The ASIC register records the year each adviser first provided financial advice, which gives you a sense of how long they have been in the industry. An adviser who has been practising for twenty or thirty years has seen multiple market cycles, regulatory changes and shifts in the industry that a newer entrant simply has not.

That said, newer advisers are not automatically less qualified. Post-2019, all new advisers must complete an approved degree and pass a professional exam before they can be registered - a higher bar than was required of many advisers who entered the industry earlier. Our guide on FASEA education standards for financial advisers explains what the qualification requirements mean in practice.

As an example of what a detailed adviser profile looks like, Nicholas Kidson is a Sydney-based adviser with over 45 years of experience and five product authorisations, with no disciplinary history recorded on the ASIC register. His profile illustrates the kind of information available for every registered adviser in this directory.

Understand how they charge

Financial advisers in Australia charge in different ways. Some charge a flat fee for a specific piece of advice. Others charge an ongoing percentage of the assets they manage on your behalf. Some charge an hourly rate. Before you engage an adviser, ask how they charge and make sure you understand what you will pay and what you will get for it.

Every adviser is required to give you a Financial Services Guide before they provide advice. This document sets out how they charge, how they are remunerated and any conflicts of interest. Read it carefully. Our guide on how much a financial adviser costs in Australia covers the main fee structures in more detail.

Think about fit

Beyond qualifications and registration, the relationship you have with your adviser matters. You will be sharing detailed information about your income, assets, debts, family situation and financial goals. You need to feel comfortable being honest with them and confident that they understand your situation.

Most advisers offer an initial consultation - often at no cost - before you commit to engaging them. Use that meeting to assess whether they listen carefully, explain things clearly and seem genuinely interested in your situation rather than in selling a product. Our guide on when you need a financial adviser can help you think through whether the time is right to engage one at all.

Personal advice vs general advice

Make sure you understand the difference between personal financial advice and general financial advice before you start. Personal advice is a specific recommendation tailored to your circumstances and documented in a Statement of Advice. General advice is information about financial products that does not take your personal situation into account. If an adviser is giving you recommendations without asking about your circumstances, that is a warning sign. Our guide on the difference between general and personal financial advice explains what to look for.

Where to start looking

This directory lists all ASIC-registered financial advisers across Australia, updated weekly from the official register. You can search by suburb or use the interactive map to find registered advisers near you, browse by state, or search by adviser name to verify someone who has been recommended to you. Every profile shows registration status, authorisations, qualifications, experience and disciplinary history - everything you need to make an informed decision before you make contact.