Neil Rogan
“Am I going to be okay?”, is increasingly the question Australians are asking their financial adviser, as rising costs, family pressures, negative news cycles and economic uncertainty are overwhelming clients and changing what they need from advice.
The latest report from Russell Investments finds 43% of advised clients sought advice for reassurance about their financial future, ahead of retirement planning at 38%. Competing financial goals rose from 23% to 31% as a driver of seeking advice, the largest movement in this year’s independent research of almost 1,000 Australians.
The 2026 Value of an Adviser Report estimates advisers added at least 5.5% per annum in value through appropriate asset allocation (1.5%), behavioural coaching (2.8%) and tax-savvy planning (1.2%). This sits alongside the variable value of helping clients navigate choices and trade-offs and the “priceless” value of adviser expertise.
Key findings for advised clients
- Confidence more than doubles after advice: 83% are very or extremely confident about achieving their financial goals after receiving advice, compared with 41% before advice.
- Clients are paying more and perceiving more value: 90% rate their adviser as good or excellent value, up from 84% in 2025, despite average annual fees rising from $4,572 to $5,235.
- Satisfaction and advocacy are strengthening: 33% now rate their adviser a perfect 10, up 8% from 2025, while the overall adviser Net Promoter Score stands at +45.
- Personalised advice is the biggest gap to close: 36% of advised clients rate advice tailored to their needs and values as one of the most important adviser attributes, second only to trust, but only 30% say it is delivered extremely well.
Neil Rogan, Head of Distribution, Australia and New Zealand at Russell Investments, said investment outcomes remain fundamental, but are no longer the whole value proposition. “Clients may be balancing a mortgage, helping children into property, supporting ageing parents and planning their own retirement, often at the same time,” Rogan said.
“The conversation is shifting from ‘help me retire’ to ‘will I be okay?’ Advisers are increasingly valued for the confidence, judgement and reassurance they bring to decisions that are complex, emotional and urgent.”
Making invisible value visible
The research also reveals a significant gap between the value advisers deliver and what clients recognise. Seventy-eight per cent of advisers strongly agree that helping clients avoid costly mistakes during market volatility is a benefit of advice, compared with just 27% of clients. Advisers rank it first; clients rank it last. The successful outcome is often the mistake that never happened, making behavioural coaching and reassurance difficult for clients to see.
Demand is building, with 54% of non-advised investors ‘extremely or very likely’ to consider using an adviser, and 48% of those expected to do so within the next two years.
“Growth is not the problem for advice businesses. Execution is,” Rogan said.
“The firms best positioned for the future will combine exceptional human advice with scalable delivery models, giving advisers more time to build trust, apply judgement and help clients answer the question: ‘Am I going to be okay?’”.
Three key priorities for advice businesses
The findings point to a broader industry challenge: how to meet rising expectations for personalised, relationship-led advice amid adviser shortages, regulatory pressure and capacity constraints. The report identifies three priorities:
- Make invisible value visible. Communicate outcomes, demonstrate progress and connect ongoing fees to the reassurance, judgement and behavioural coaching clients receive.
- Scale personalised advice. Tailored advice ranks second only to trust, yet 62% of advisers find delivering it at scale challenging. AI, automation and scalable implementation can create capacity while preserving a personal client experience.
- Build defensible delivery models. Develop transparent, repeatable and resilient operating models that support growth, advice quality and regulatory obligations. Managed accounts are one example of how firms can simplify implementation and strengthen governance.
About the research
The research was conducted in Australia in April and May 2026 and surveyed 501 advised investors, 200 non-advised investors and 237 financial advisers, supported by qualitative adviser interviews. It was conducted for Russell Investments by Honeycomb Strategy, an Australian market research and behavioural science agency.