(And What Do They Actually Do?)
Let’s be real — the financial world can be overwhelming, especially when you’re running a business and trying to plan for the future.
That’s where a Financial Advisor can help.
But what do they actually do? And how are they different from a bookkeeper, accountant, or tax agent?
Let’s clear it up.
So… What Is a Financial Advisor?
A Financial Advisor is a licensed professional who helps you make informed decisions about your money, goals, and future. They can work with individuals, families, or businesses to create a financial plan that makes sense — now and long term.
In Australia, financial advisors must hold an AFSL (Australian Financial Services Licence) or be authorised by someone who does, and they’re regulated by ASIC.
What Can a Financial Advisor Help With?
Financial advisors can give guidance on:
- Budgeting and saving
- Investing (shares, property, managed funds, etc.)
- Superannuation and retirement planning
- Personal insurance (like income protection or life cover)
- Setting and reaching financial goals
- Wealth building strategies
Some also work with business owners to align personal and business goals — like planning to retire, buy a house, or invest profits wisely.
How Are They Different From Accountants or Tax Agents?
- A bookkeeper helps you stay organised
- An accountant helps you understand your business finances and meet tax obligations
- A tax agent helps you lodge your tax return
- A financial advisor helps you plan for the future and grow your wealth
Think of your financial advisor as the long-term strategist — while your bookkeeper and accountant handle the now.
Do I Need One?
If you:
- Feel unsure about where your money’s going
- Want to start investing but don’t know where to begin
- Are planning for retirement, buying a home, or building wealth
- Need help setting achievable money goals
- Want advice that looks at your whole financial picture…
…then yes, a financial advisor could be a great next step.
TL;DR?
A Financial Advisor helps you make smart decisions with your money — for now, for later, and for life. They’re your personal money coach, guiding you toward your goals.
