There's more to financial advice than meets the eye
Because some of the biggest benefits are the ones you can't see.
By Nicola Beswick, Founder & Certified Financial Planner®
Over the last twenty years, financial advice has quietly grown up.
What used to be a loosely regulated industry is now a genuine profession. Advisers have to meet university-level education standards, pass a national exam and work to a strict code of ethics. The bar has never been higher.
Yet, only one in ten Australians received professional financial advice in 2025.
of Australians received professional financial advice in 2025.
Source: Adviser Ratings Research, 2025
So, while the profession has evolved, most people are still working out their money on their own. On a hunch, from Google, ChatGPT or from well-meaning advice from friends, family and work colleagues.
Why the gap?
A lot of it comes down to a simple misunderstanding. Unlike accountants, mortgage brokers and solicitors, most Australians aren't sure what a financial adviser actually does, who financial advice is really for, or the difference it can make to their life financially and emotionally.
So let's set the record straight!
What does a financial adviser do?
Let's start with the official version.
Moneysmart, the government's money guidance site defines financial advisers as: professionals who can help you plan and manage bigger financial decisions. They can help you set financial goals so you feel confident that your future plans are achievable. If you’re not on track to achieving your goals, an adviser can help you put the right strategies in place or assist you to set more realistic goals.
But what does that actually mean?
Here’s the White Rabbit definition of what a financial adviser does:
A financial adviser helps you make sense of your money and make considered decisions with it. Not just for today, but for the years ahead. They look at the whole picture, what you earn, what you owe, what you’ve saved, your super, your insurance, and where you actually want to end up and tick off along the way. Then they help you build a plan to get there.
Think of them like a GPS for your money. You put in where you are and where you want to go, and they map the smartest route. When life throws a detour at you, a new job, a separation, an inheritance, a health scare, they help you find your way again.
The best advisers do more than crunch numbers. They ask the questions you didn’t think to ask. They spot the risks you can’t see. And they keep you steady when your gut is screaming at you to do something you’ll probably regret.
Who can benefit from financial advice?
When people hear “financial advice”, it's easy to picture a certain kind of person.
A yacht.
A Lamborghini.
A few investment properties.
A multi-million-dollar portfolio.
In other words, someone else's life.
And that perception is real.
ASIC research found that a perception that financial advice is only for wealthy people is one of the barriers stopping Australians from seeking advice.
Australian Retirement Trust research found that among people who had never used a financial adviser, 39% felt they didn't have enough assets to justify needing one.
But financial advice isn't just for the 1%.
Financial advice is right for you if you want to:
know whether you're really on track for retirement
make a big financial decision with confidence
work out what to do with your super
make the most of an inheritance or lump sum
make an insurance or injury payout go the distance
rebuild your finances after a separation
find your way through aged care for a parent
balance enjoying life now with looking after later
protect the people who depend on you
know how much you can actually afford to spend
or simply stop wondering whether you're doing the right thing.
It's not about how much money you have. It's about what you want your money to do for your life.
What difference can financial advice make to your life?
The value of financial advice you can see
Good financial advice can help you make the most of what you have, manage financial risks, plan for retirement, make better investment decisions and understand the tax implications of your choices.
The research confirms that financial advice makes a tangible financial difference.
The 2025 Financial Advice Association Australia (FAAA) Value of Advice Index found that:
93% of advised clients say their adviser has made them tangibly financially better off.
96% say financial advice has provided more value than it costs.
The research also found a significant difference between people who receive advice and those who don't.
88% of advised Australians feel they are on track to have enough money to last through retirement, compared with 62% of unadvised Australians.
That's the stuff you can see.
A bigger balance.
A better tax outcome.
A retirement plan.
Money put aside for the things that matter.
But, the financial benefits are only part of the story.
The value of advice that you feel
Money isn't just mathematical.
It affects how we sleep.
How we make decisions.
What we worry about.
Whether we feel comfortable spending money we've worked hard to earn.
Whether we feel like we're on track or constantly wondering if we're doing something wrong.
Money is emotional,
not just mathematical.
Money doesn’t just live in your bank account. It lives in your nervous system, your habits, and your energy.
You and money are a thing. Your relationship with money impacts every part of your life. Your health. Your relationships. Your work. And your wealth.
— Ellen Rogin
The mental load of money is real, and the benefit of having advice in your corner is not just anecdotal. Research from The Financial Advice Association of Australia and Russell Investments examined how financial advice affects people beyond their account balances.
The findings support what many advised clients already know: When the financial side of your life is sorted, the benefits ripple through your confidence, health and relationships. Financial advice can bring greater financial security, less stress and more peace of mind.
The real bottom line
Financial advice can help you grow your wealth, manage your risks and make better financial decisions.
The financial value can be tracked in a spreadsheet.
But some of the biggest benefits can’t be seen.
You feel them.
It's knowing you're on track.
It's understanding your options.
It's having someone to talk things through with.
It's being able to spend without guilt, guesswork or worry.
It's making big decisions without that knot in your stomach.
It's having a plan when life changes.
And sometimes, it's simply feeling like you can breathe a little easier about money.
It’s hard to put a value on these benefits, but I believe they are priceless!
Ready to feel the difference financial advice can make in your life? Book a call with the White Rabbit team.
About White Rabbit Advisory
White Rabbit Advisory is a Melbourne financial planning practice helping people through life's biggest twists and turns with straight talk, real care and a firm no-judgement policy. We cut through the complexity so you can make confident decisions about your money, and your life.
Headstrong, heartfelt and here for you.
White Rabbit Advisory Pty Ltd is a registered tax (financial) adviser and any reference to tax advice contained in this document is incidental to the general financial advice it may contain. You should seek specialist advice from a tax professional to confirm the impact of this advice on your overall tax position. You should obtain financial advice relevant to your circumstances before making financial decisions. Whilst every care has been taken in the preparation of this information, it may not remain current after the date of publication and White Rabbit Advisory Pty Ltd and its related bodies make no representation as to its accuracy or completeness.
Published: June 2026 © Copyright 2026
White Rabbit Advisory Pty Ltd (ABN 54 676 177 138) is a Corporate Authorised Representative (No. 1314020) of Personal Financial Services Ltd (ABN 26 098 725 145). Australian Financial Services Licence (No 234459).
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