For many older Australians, knowing how to make the most of their retirement savings isn’t easy.
Should you manage it yourself or seek professional help? Is financial advice really worth the cost?
According to new research, it could do far more than boost your bank balance — it may also give you confidence, peace of mind, and even the chance to retire earlier.
According to the latest Value of an Adviser report by Russell Investments, Australians who work with a financial adviser are significantly more confident about their money and their future.
The nationwide survey, which included over 700 investors and 200 advisers, revealed that financial advice delivers benefits that go well beyond boosting returns:
89 per cent say it makes them feel more confident and knowledgeable about their finances.
86 per cent feel more in control of their money and decisions.
81 per cent feel extremely confident about achieving their financial goals — compared to just 28 per cent before receiving advice.
Neil Rogan, Head of Distribution for Australia and New Zealand at Russell Investments, says it’s not just about picking investments.
“Financial advice isn’t just about picking investments — it’s about helping people feel informed and in control of their money, their future, and their decisions,” Rogan said.
For retirees in particular, the findings are striking. The report shows:
42 per cent of advised retirees stopped working before the age of 65 — more than double the rate of those who never sought advice.
81 per cent of people with advisers enjoy greater peace of mind about their financial future.
80 per cent say they feel less stressed and overwhelmed when planning ahead.
With life expectancy increasing and costs rising, having a clear financial strategy can make the difference between scraping by and enjoying a comfortable retirement.
Today’s financial landscape is more complex than ever. Many older Australians are not just planning for their own retirement but also supporting adult children, caring for ageing parents, or managing multiple properties and investments.
Rogan says this is where a trusted adviser can really help.
“As the financial landscape becomes increasingly complex, the value of a trusted adviser is more evident than ever, offering tangible benefits that enhance both financial well-being and overall quality of life,” he said.
While financial advice comes at a cost, the research suggests it could deliver long-term value — not just in dollars, but in confidence, clarity, and lifestyle choices.
For older Australians facing big financial decisions, speaking to a qualified adviser might just be the key to unlocking a more secure and less stressful future.
IMPORTANT LEGAL INFO This article is of a general nature and FYI only, because it doesn’t take into account your financial or legal situation, objectives or needs. That means it’s not financial product or legal advice and shouldn’t be relied upon as if it is. Before making a financial or legal decision, you should work out if the info is appropriate for your situation and get independent, licensed financial services or legal advice.