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How to Become a Financial Advisor: Australian Careers in Financial Planning

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What is a Financial Advisor?

What will I do?

What skills do I need?

Resources

What is a Financial Advisor?

A financial advisor helps people and businesses make smart choices about money. They create tailored financial plans, give advice on investments, and guide clients through retirement planning, insurance, and wealth management.

Advisors start by learning about each client’s financial goals and risk tolerance. They then build a plan that may include investment options, superannuation, insurance, and tax planning. Plans are reviewed regularly and adjusted when markets shift or client needs change.

In Australia, financial advisors must hold an approved bachelor’s degree and pass the ASIC Financial Adviser Exam. They must also complete a professional year of supervised work before they can legally give personal financial advice. They must stay on the ASIC Financial Advisers Register to practise.

Most advisors work for financial planning firms, banks, or insurance companies. Some run their own practices. The role suits people who enjoy numbers, problem-solving, and building strong client relationships over the long term.

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Career snapshots For Financial Advisors

Financial advising is a well-established profession in Australia. Around 24,000 people work as financial investment advisers nationally (Your Career, 2025). Demand is rated as moderate, with roles available across banks, financial planning firms, and independent practices.

Most advisors work full-time, averaging 44 hours per week (Your Career, 2025). Median weekly earnings are $2,320, or about $121,000 a year. The median age of advisors is 43, and women make up 33% of the workforce. The sector offers strong pay, flexible career paths, and high job satisfaction for those who enjoy client-facing roles.

What will I do?

Financial advisors help clients make sound money decisions. They build financial plans, give advice on investments, and adjust those plans as markets and client needs change.

  • Client meetings: talk with new and existing clients to learn about their financial goals and current situation.
  • Financial planning: build complete financial plans covering investments, insurance, superannuation, and tax.
  • Investment tracking: check investment performance often and revise plans based on market changes.
  • Insurance advice: advise clients on the right insurance options and set up the necessary cover.
  • Share and bond transactions: buy and sell stocks and bonds on behalf of clients.
  • Superannuation management: manage superannuation savings policies and unit trusts to meet client goals.
  • Goal setting: help clients set clear financial targets and build step-by-step plans to reach them.
  • Referrals: direct clients to other financial services or specialists when their plan calls for it.

What skills do I need?

Financial advising calls for a mix of technical knowledge and people skills. Advisors must be able to read financial data, build investment plans, and assess risk accurately. They also need to explain complex ideas clearly to clients of all backgrounds.

Strong communication is just as important as financial expertise. Advisors build trust over years of client work, so honesty, empathy, and reliability matter a great deal. Staying up to date with ASIC rules and new financial products is also a core part of the role.

Skills/attributes

  • Analytical thinking and financial data interpretation
  • Clear and confident communication
  • Client relationship and interpersonal skills
  • Knowledge of financial products and services
  • Understanding of investment strategies and markets
  • Financial planning and strategy development
  • Attention to detail
  • Problem-solving and critical thinking
  • Time management and organisation
  • Ethical judgement and integrity
  • Ability to work under pressure
  • Commitment to ongoing professional learning
  • Proficiency in financial planning software
  • Knowledge of ASIC regulations and compliance requirements
  • Sales and business development skills

CourseFinder makes every effort to ensure the information we provide is correct at the time of publication. We welcome your input to help keep our career profiles as accurate and up to date as possible. All queries and feedback will be taken into consideration as we conduct periodic reviews of our content. Add your voice to the conversation!

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About the author

Laura Atkinson

Laura Atkinson

Laura Atkinson is an Account Management and SEM specialist at Course Finder Group with six years' experience in the Australian education sector. She works day to day with universities, TAFEs and independent training providers, which gives her a close view of how courses map to real career outcomes. She writes practical guidance on career pathways, choosing the right qualification and what to expect when moving into a new field.