From www.ifa.com.au: Advisers are slowing the increase of client fees after a seven-year climb, where the median cost of advice nearly doubled from $2,510 in 2018 to $4,744 in 2024, with a mere 4% rise in the last year.
This shift in fee pricing reflects a growing confidence among advisers to align their fees with the perceived value of their services, leading to the adoption of client-centric and tiered fee models.
Despite 68% of Australians acknowledging the benefits of professional financial advice, only 6% are willing to pay above $2,500, prompting firms to enhance fee transparency and adjust their structures in light of new industry reforms.