In Australia, financial advisor and financial planner mean the same thing in law. Both must meet Financial Adviser Standards, pass the national exam, complete a Professional Year, follow the Code of Ethics, and be on the ASIC Financial Adviser Register before giving personal advice to retail clients.
Firms may use titles differently, but the legal term is relevant provider. Whether someone calls themselves an advisor or planner, always check the ASIC Financial Adviser Register. Look for clear fee disclosure, a Statement of Advice, and ongoing service agreements.
Educational Requirements
Both: Bachelor’s Degree
Financial Planner: Certified Financial Planner (CFP) certification & adhere to CFP Board’s four E’s (Education, Examination, Experience, Ethics)
Financial Adviser: only certain specifications for certain roles and responsibilities
Working with Clients
Financial Planner: Short-term purpose; fiduciary standard of care
Financial Adviser: Ongoing and long-term purpose; suitability standard of care
Compensation
Financial Planner: Charges flat or hourly fee
Financial Adviser: Commission; Fee-based payments or flat fee
International students should target employers who sponsor the Professional Year and provide visa-compliant work arrangements after graduation.
Prepare with business and financial planning‑aligned study and learn about post‑study work rights.
