Financial Advice Value That Goes Beyond the Numbers

"Good financial advice isn't just about the numbers. It's about giving people confidence, support, and a sense of control, even when times are tough. The difference between those who have advice and those who don't is growing as Australians are seeing the value of financial advice, not despite uncertain markets, but because of them."  

- FAAA chief executive Sarah Abood.

The latest FAAA Value of Advice Index MYMAVINS conducted in 2025 confirms that the benefits of professional advice remain both measurable and meaningful. It once again shows that Australians who receive professional financial advice are better off, not just financially, but in life. Across all demographics, advised Australians continue to outperform their unadvised peers in financial confidence, satisfaction, and overall quality of life with these gaps widening slightly year on year.

FAAA Value of Advice Index 2025

People with advisers report feeling more confident, less stressed, and better prepared for the future. They’re more likely to have a clear plan for retirement, feel in control of their money, and enjoy a stronger sense of wellbeing.

Even with cost-of-living pressures and ongoing global uncertainty, the value of advice has grown stronger. Most clients say their adviser’s support becomes more valuable during turbulent times, helping them stay calm, focused, and financially steady.

The study also busts some long-standing myths. Financial advice isn’t just for the wealthy or for older generations and significant benefits can be observed across the board.

While technology is opening up new ways to access advice, most Australians still want a human connection with human-led and hybrid models dominating preferences. The reassurance, empathy, and personal understanding that advisers bring simply can’t be fully replaced by a digital model. The human element of trust, empathy, and accountability remains essential to perceived value and client satisfaction.

Financial advice isn’t just about growing wealth. It’s about building life satisfaction, improving confidence, reducing stress, and helping Australians feel secure and supported, no matter what’s happening in the world. Overall, the 2025 Index demonstrates the enduring role of advice as both a financial and psychological anchor for a better life. It reinforces that advice provides stability, reassurance, and tangible wellbeing benefits, particularly in times of volatility.

Key findings summary

Clients who work with a financial adviser say they are better off 

Nearly 2 in 3 clients of financial advisers are highly satisfied with their wealth versus close to 1 in 3 unadvised consumers.

They enjoy a higher quality of life, more financial confidence, and experience less financial stress.

• Over 4 in 5 report living with a strong sense of purpose

• Close to 9 in 10 say they are confident of solving most challenges

• Over 9 in 10 feel financially secure

Clients of financial advisers experience financial peace of mind

Advised consumers are much more satisfied with their wealth and much less stressed than their unadvised counterparts including:

• Over 9 in 10 feel financially secure

• Over 9 in 10 feel financially better off

• Over 4 in 5 feel their adviser’s value increases during volatile market periods

Financial advice helps people fulfil unmet financial needs

Unadvised consumers report many unmet financial needs, including:

• The ability to live their desired lifestyle (nearly 2 in 5)

• A realistic plan for a more comfortable retirement (nearly 2 in 5)

• Reducing financial worries and stress (nearly 2 in 5)

The top three ways financial advisers have helped the advised are:

• Reducing financial stress and worries (nearly 2 in 3)

• Building a realistic plan for a comfortable retirement (nearly 2 in 3)

• Helping to get the most out of a current financial situation (nearly 3 in 5)

  
  

Australians (including Gen Y) still prefer human financial advice

Despite Gen Y being more open to AI financial advice services than Baby Boomers:

• The majority still prefer human interaction in their advice solutions

• Only 1 in 10 Gen Y would be comfortable with a completely digital-only advice solution compared to almost no Baby Boomers

• However, Gen Y are significantly more likely to feel comfortable with AI performing administrative tasks of financial planning compared to Baby Boomers

Busting the myths

Myth #1 -If you’re not rich, advice isn’t worth it

FACT: More than 9 in 10 clients earning $120,000 or less per year who work with a financial adviser feel financially secure — well above the level of unadvised consumers on the same income. They also enjoy a higher quality of life, stronger financial confidence, and greater satisfaction — with the difference between their unadvised counterparts even higher than those in higher income brackets.

Myth #2 - Younger clients see less benefit from financial advice

FACT: More than 9 in 10 Gen Y clients working with a financial adviser report being better off financially. Compared with unadvised peers, they demonstrate higher levels of quality of life, financial confidence, and satisfaction — with the observed improvements in quality of life and financial confidence surpassing those recorded for Baby Boomer clients.

Myth #3 - Financial advice is too expensive to be worthwhile

FACT: More than 9 in 10 clients say their financial adviser has made them tangibly better off financially and the same proportion agree the benefits of advice outweigh the costs. However, the biggest payoff isn’t just money. Importantly, peace of mind emerges as both the most frequently cited benefit and the greatest need met through advice — an invaluable worth in the present that can’t be measured in dollars.

Myth #4 - Financial advice is just outsourcing your financial decision making

FACT: Over 9 in 10 clients of financial advisers report their financial literacy has improved through the process of receiving advice and a similar proportion value the investment education they have received. Nearly all feel their adviser has supported them to make the best financial decisions they can.

Myth #5 - AI will replace the need for human financial advice

FACT: Consumers are most likely to prefer human led advice with limited use of digital tools and only 6 in 100 prefer fully digital advice solutions. The majority feel that digital advice cannot effectively provide personalised guidance, experience and judgement or emotional support and trust as humans.

Tai Rotem is a consulting partner at MYMAVINS with several decades experience in financial consumer, public health, social and behavioural change research.

Reach out to him at Tai@mymavins.com.au