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How much does it cost to see a financial adviser?

The cost of seeing a financial planner can range from $3,000 to $5,0000 to set up a plan, and then about $3,000 to $8,000 annually if you have an ongoing relationship with the planner, according to the Financial Planning Association (FPA).

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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.

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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

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TJ Wealth Management Pty Ltd T/A 7 Financial Planning 1261911 is an authorised representative of Wealth Today Pty Ltd AFSL 340289.

The information contained in this website and any of the resources available through it including eBooks, fact sheets and seminars (‘Content’) has been prepared for general information purposes only and is not (and cannot be construed or relied upon as) personal advice. No investment objectives, financial circumstances or needs of any individual have been taken into account in the preparation of the Content. Financial products entail risk of loss, may rise and fall, and are impacted by a range of market and economic factors, and you should always obtain professional advice to ensure trading or investing in such products is suitable for your circumstances. Under no circumstances will any of  TJ Wealth Management Pty Ltd, Wealth Today Pty Ltd, its officers, representatives, associates or agents be liable for any loss or damage, whether direct, incidental or consequential, caused by reliance on or use of the Content. This content is restricted to Australian residents and is for the intended recipient only. From time to time TJ Wealth Management Ltd representatives or associates may hold interest in or transact in companies or products mentioned herein, and may receive fees or other benefits, in connection with the making of any recommendation or facilitating a transaction in such companies or products.”​

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