When it comes to making big decisions about money and investing, we often suggest talking to a financial adviser. But what exactly does a financial adviser do? How can they help you get your finances in order, plan for the future, or reach your goals? Let’s break it down.

Having a clear plan can make all the difference to your financial journey. But between juggling bills, saving for the future, and trying to make sense of things like superannuation and investments, it’s easy to feel overwhelmed.

That’s where a financial adviser can come in. Think of them as your personal guide to all things money – helping you make smarter decisions, avoid costly mistakes, and feel more confident about your financial future. We’re unpacking the many ways financial advisers can support you, from setting goals to planning for retirement, and showing you how to find the right one.

1. Setting realistic goals

If your financial goals feel a bit scattered, a financial adviser can help you clarify and organise them. Whether it’s buying your first home , planning for (early) retirement, or taking that dream holiday, they’ll work with you to set achievable targets.

They’ll also map out the steps to reach those goals, breaking them down into manageable actions. With their guidance, you may have a clearer sense of direction and a practical plan to work toward the future you want.

2. Sorting out your budget and cash flow

Understanding where your money goes each month can be tough, and a financial adviser can offer a fresh perspective. They’ll analyse your income and expenses to suggest practical ways to manage your cash flow and create a budget tailored to your needs.

Whether your focus is saving more, paying off debt, or simply feeling more in control of your money, an adviser can provide the structure you need to move forward.

3. Making sense of investing

The world of investing can be complex, and many people feel unsure about where to start. A financial adviser can guide you through the basics, help you understand your risk tolerance , and suggest investing strategies that align with your goals. They might recommend investments like ETFs , shares, or superannuation options, tailoring their advice to suit your circumstances.

4. Cutting down on tax where you can

Tax can take a big bite out of your finances, but there are ways to try and minimise the impact. Financial advisers can suggest tax-efficient strategies, like salary sacrificing or government incentives, to manage your obligations.

While they can’t replace a tax accountant for complex situations, their advice on structuring your finances may help you reduce unnecessary tax expenses and keep more of your hard-earned money.

5. Managing debt

Debt can be a significant barrier to achieving financial freedom. A financial adviser can create a plan to reduce your debts, whether through better budgeting, refinancing, or consolidating loans. Their advice can help you find ways to pay off debt faster and save on interest.

6. Making sure you’re covered for the unexpected

Having the right insurance can provide peace of mind, but it’s not always easy to figure out what coverage you actually need.

A financial adviser can help you assess your risks and choose policies that protect you and your family without unnecessary costs. Whether it’s life insurance or income protection, their insights can prepare you for life’s uncertainties.

7. Planning for retirement

Thinking about retirement can feel overwhelming, especially when trying to figure out how much super you’ll need or how to make your money work harder for you.

A financial adviser can assist you with planning for the long term by offering projections and strategies tailored to your lifestyle goals. They can adapt these plans as life changes, helping you stay on track to achieve a comfortable retirement.

As far as superannuation goes, they can also help you understand your super options, optimise contributions, and explore schemes like the First Home Super Saver (FHSS) scheme .

8. ...and early retirement

Many financial advisers specialise in Financial Independence Retire Early (FIRE) planning. They can determine your “ FIRE number ” – the amount you’ll need to fund your ideal lifestyle – and create a strategy to reach it. They’ll guide you on building wealth through smart investments, disciplined saving, and leveraging tools like superannuation or tax-efficient accounts.

Advisers can also help you understand risks, such as market volatility, and adapt your plan if your circumstances change.

9. Planning your legacy

While they’re not legal professionals, advisers often work alongside lawyers to create a comprehensive estate plan. They can assist with organising wills, trusts, and superannuation nominations to ensure your assets are distributed according to your wishes.

Estate planning isn’t always a top priority, but it can save your family a lot of stress in the future.

10. Giving you the tools to take control

A good financial adviser won’t just tell you what to do – they’ll empower you with knowledge. By breaking down complex topics and answering your questions, they’ll make you feel more confident in managing your own finances.

Ultimately, their role is to support and guide, but the best results come when you take an active role in your financial decisions.

How to find the right financial adviser for you

If you’re thinking about working with a financial adviser, it’s important to find one that suits your needs and makes you feel comfortable. Here’s how to get started:

1. Figure out what you need help with: Are you looking for investment advice, debt management, retirement planning, or something else? Knowing what you need will make it easier to find someone with the right expertise.
2. Check their credentials: In Australia, financial advisers must meet strict qualifications and be listed on the Australian Securities and Investments Commission’s (ASIC) Financial Advisers Register. Always check their credentials to make sure they’re legit.
3. Understand their fees: Financial advisers charge in different ways – some have flat fees, others charge hourly, and some take a percentage of your investments. Make sure you know what you’re paying for and how it fits into your budget.
4. Find someone you click with: Financial planning is personal. That's why it’s important to choose someone who understands your values and communicates in a way that makes sense to you. Don’t be afraid to meet a few advisers before making a decision.
5. Do your research: The Moneysmart website is a great place to start. It’s packed with tips on finding a financial adviser, questions to ask, and how to make sure they’re the right fit for you.

Final thoughts

Financial advisers aren’t just for the wealthy or those with complex finances. They can support anyone who wants to get on top of their money, plan for the future, or feel more confident about their financial decisions.

If you think you could use a helping hand, take the time to find an adviser who fits your needs and values. To get started, check out the Moneysmart website . It’s a great resource for finding qualified advisers and making sense of the process.