Above the Clouds

Fees

Family Moments

How much does it cost to see a financial adviser?

The cost of seeing a financial planner can range from $2,500 to $3,500 to set up a plan, and then about $2,500 to $3,500 annually if you have an ongoing relationship with the planner, according to the Financial Planning Association (FPA).

Happy Family

How do financial advisers charge fees?

We charge fixed fees. This involves charging a set price for a particular service. For example, we may charge an initial fixed fee to identify your needs and develop a plan, then an ongoing fixed fee for advice provided on a regular basis beyond that.

You may be able to pay it through your bank account or super depend on the services you choose.

Happy Family
Family Fishing Trip
Happy Family

Are financial planning fees tax-deductible in Australia?

Generally speaking, you may claim a tax deduction on fees paid for investment advice. However, this is provided the costs are related to advice which leads to or is directly associated with a specific investment which produces assessable income (e.g. dividends from an investment).

The Australian Taxation Office has indicated that the following fees are not tax-deductible:

  • General financial advice

  • Preparing a financial plan

  • Initial investment advice

  • Upfront fees

  • Accumulated superannuation (the ongoing fee is not tax-deductible if the advice relates to the client and not the super fund)

  • Advice regarding non-assessable pension income