Navigating the complexities of personal finance can often feel like sailing in uncharted waters, and this includes finding a financial adviser. From managing daily budgets to planning for long-term goals like retirement, the journey is fraught with decisions that can have a lasting impact on your financial well-being. In Australia, the financial landscape is further shaped by a dynamic regulatory environment and a fluctuating number of professionals available to offer guidance. This article serves as your comprehensive guide to finding a good financial adviser, demystifying their role, and empowering you to make an informed choice that aligns with your personal financial journey.

The Shifting Tides of Financial Advice in Australia

The Australian financial advice industry has undergone a significant transformation in recent years. Following the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the sector has seen a dramatic shift in regulations and a notable decline in the number of registered advisers.

Deciding whether or not to set up an SMSF is a significant financial decision that should not be taken lightly. Before you take the plunge, it’s essential to consider your personal circumstances carefully and whether you have the time, expertise, and commitment to manage your own super fund. Here are some key questions to ask yourself:

• Do you have the time and commitment? As we’ve seen, running an SMSF is a significant time commitment. You need to be prepared to spend a considerable amount of time on research, administration, and compliance. If you’re not prepared to put in the hard yards, an SMSF is probably not the right option for you.
• Do you have the financial and legal knowledge? You don’t need to be a financial expert to run an SMSF. Still, you do need to have a good understanding of financial markets, investment principles, and the laws that govern superannuation. If you’re not confident in your ability to manage your own investments and comply with the law, you should seek professional advice before setting up an SMSF.
• Is your super balance large enough? While there is no legal minimum balance for an SMSF, the costs of setting up and running a fund can be high. If your balance is too small, these costs will eat into your returns and you may be better off in a traditional super fund. As a general rule of thumb, many experts suggest that you should have at least $200,000 in super before you consider setting up an SMSF.
• Are you comfortable with the risks? With an SMSF, you are personally responsible for all investment decisions and the government’s compensation scheme does not cover you. You need to be comfortable with the risks involved and be prepared to accept the consequences of your decisions.

“Total and Permanent Disability Insurance” is designed to relieve financial pressure in case you become permanently disabled as a result of illness or injury.

The statistics paint a sobering picture: approximately 9 million Australians currently hold Total and Permanent Disability (TPD) insurance, yet many remain underinsured or completely unaware of what their policies actually cover.

The harsh reality is that permanent disability doesn't discriminate. Whether you're a 25-year-old tradesperson or a 45-year-old office manager, the risk exists. What's more concerning is that many Australians discover the gaps in their coverage only when it's too late to address them. This article examines why TPD insurance deserves serious consideration in every working person's financial planning strategy, backed by current industry data and regulatory insights.

An unexpected critical illness or accident that results in the breadwinner being unable to work can have a devastating effect on a family, especially when the breadwinner does not have Trauma Insurance. I've witnessed firsthand the devastating financial impact that critical illnesses can have on families. While most working Australians understand the importance of health insurance and income protection, there's one crucial safety net that remains significantly under-utilised: trauma insurance. The statistics paint a sobering picture that every working Australian should understand.

The Harsh Reality of Critical Illness in Australia

The numbers don't lie, and they should concern every working Australian. Each year, more than 150,000 Australians receive a cancer diagnosis [1]. Cardiovascular disease affects over 1.2 million Australians, often leading to heart attacks [1]. Additionally, more than 350,000 Australians suffer strokes annually, with over one-third experiencing at least one permanent impairment as a result [1]. These aren't distant statistics – they represent real people whose lives and financial security were turned upside down in an instant.

As a financial advisor in Australia, it’s rare to see a piece of government policy walk back from the brink in such a significant way. For months, the investment community has been holding its breath over the proposed Division 296 tax on large superannuation balances. The initial proposal, let's be frank, was fraught with issues. But on October 13th, 2025, Treasurer Jim Chalmers announced a significant overhaul, which is a welcome dose of common sense for those with substantial retirement savings.

The air of uncertainty that has clouded long-term retirement planning has finally begun to clear. The most contentious elements of the original bill—a tax on unrealised “paper” gains and an unindexed $3 million threshold that would have ensnared more and more Australians over time—have been scrapped. In their place is a more pragmatic, tiered system that, while still a tax increase, provides a much clearer and more stable framework for the future.

Life is unpredictable. For many Australians, the risk of serious illness, disability, or death is low probability but very high impact — loss of income, medical bills, mortgage repayments, family hardship. Personal insurance helps manage those risks.

Some data:

• The Value of Group Insurance in Superannuation report found that about 30% of working members of super funds will experience at least one insured event (death, disability etc) over their working life. (Actuaries Australia)
• Life, TPD, and Income Protection (IP) claims via superannuation funds paid roughly A$6.6 billion in new claims in 2021 alone. (ASFA)

These figures show that insurance is not a “nice-to-have” but an essential part of financial resilience.