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5 Steps to Choosing the Best Financial Adviser in Australia
- Discover Financial Partners
- 7 days ago
- 3 min read
By Lachlan Anderson, Partner and Financial Adviser – Discover Financial Partners
When it comes to your financial future, choosing the right adviser is one of the most important decisions you’ll make. Whether you're planning for retirement, investing for the first time, or simply trying to make smarter money decisions, the right adviser can help you turn uncertainty into clarity—and goals into action.
But with so many options out there, how do you know who gives the best financial advice? Who should you trust? And what should you look for?
Here are five essential steps to help you choose the best financial adviser in Australia—plus a few real-world stories from clients we’ve helped along the way.
1. Understand Your Financial Needs
Before you start searching, take a moment to reflect on what you actually need help with. Are you looking to:
Build wealth through investing?
Plan for retirement?
Protect your family with insurance?
Manage debt or improve cash flow?
Structure your finances tax-effectively?
Knowing your goals will help you find an adviser with the right expertise.
When we first met Shuang, a 45-year-old executive, she thought she just needed help with superannuation. But after a discovery session, we uncovered opportunities to restructure her investments, reduce tax, and set up a trust for her children. She left with a full financial roadmap—not just a super strategy.
2. Verify Credentials and Licensing
In Australia, anyone providing personal financial advice must hold an Australian Financial Services (AFS) licence or be an authorised representative. You can check this on the Financial Advisers Register, which shows:
Their licence status
Qualifications and training
Areas of advice they’re authorised to provide
Any disciplinary history
Tip: Look for advisers who are also members of professional bodies like the Financial Advice Association Australia (FAAA), which upholds high ethical and professional standards.
3. Seek Recommendations and Do Your Research
Word-of-mouth is powerful. Ask friends, family, or colleagues if they’ve worked with a financial adviser they trust. But don’t stop there—do your own research too.
Visit the adviser’s website
Read client testimonials and online reviews
Look for case studies or examples of their work
Check if they specialise in clients like you (e.g. business owners, retirees, young professionals)
Tom and Edward were referred to us by a friend. They were expecting a transactional experience, but what they got was a long-term partnership. We helped them buy their first home, set up life insurance, and start investing for their kids’ education—all in one cohesive plan.
4. Assess Independence and Fee Transparency
Not all advisers are created equal. Some are aligned with banks or product providers, which can influence the advice they give. Others, like Discover Financial Partners, are privately owned and operate independently—meaning our advice is based solely on what’s best for you.
Ask about:
Independence – Are they tied to any financial institutions?
Fee structure – Do they charge fixed fees, hourly rates, or commissions?
Transparency – Will they clearly explain what you’re paying for?
Why it matters: Independent advisers are more likely to offer a broader range of solutions and avoid conflicts of interest.
Check out our article on What Financial Advice Costs in Australia? to learn more.
5. Book a Discovery Meeting and Evaluate Compatibility
Most advisers offer a free initial consultation. Use this time to:
Share your goals and concerns
Ask how they work with clients
Understand their process and philosophy
Gauge whether they listen and communicate clearly
When Michael, a 60-year-old nearing retirement, met with us, he said, “I’ve seen three advisers and none of them really listened.” We took the time to understand his lifestyle goals, risk tolerance, and family dynamics. Today, he’s retired comfortably—with a plan that reflects what matters most to him.
Bonus: What Makes a Great Financial Adviser?
Beyond qualifications and experience, the best advisers:
Educate and empower you—not just tell you what to do
Adapt their advice as your life changes
Communicate clearly and regularly
Act in your best interest—always
At Discover, we believe great advice starts with great relationships. That’s why we focus on building trust, not just portfolios.
Final Thoughts on Choosing the Best Financial Adviser in Australia
So, who gives the best financial advice in Australia? The answer is: the adviser who understands you, puts your interests first, and has the expertise to guide you through life’s financial decisions.
At Discover Financial Partners, we’re proud to offer personalised, independent advice that helps our clients feel confident and in control of their future. If you’re ready to take the next step, we’d love to meet you.
This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is suitable for you and your personal circumstances.