Yasmine Raso
Senior Journalist
21 October 2026
It comes as no surprise that more Australians are seeking out professional guidance to help manage their money amid mounting financial pressures, but the latest research from Colonial First State (CFS) has identified a catch-22 in which the very advice that could support financial security remains a largely inaccessible and costly endeavour.
The 2026 edition of CFS’ Empowered Australian report has all but confirmed that Australians remain strongly open to receiving advice if it came at a “reasonable cost” (72 per cent, up from 59 per cent in 2025), while affordability remains the biggest barrier to engaging in professional financial advice (36 per cent).
Of the 2,058 adults with a superannuation, pension/annuity or investments account surveyed, 88 per cent agreed that advice should be made accessible to all (up from 82 per cent in 2025).
Respondents also reported a surge in demand for advice offerings delivered by their superannuation fund, with 73 per cent wanting their fund to directly offer advice (up from 63 per cent in 2025), 52 per cent wanting assistance from their fund to find an adviser in their area (up from 50 per cent in 2025), and 81 per cent wanting their fund to suggest ways to grow their super (up from 73 per cent in 2025).
“Australians are again telling us they see value in financial advice and want it to be within reach of more people,” CFS Superannuation chief executive, Kelly Power, said.
“We are encouraged by the Federal Government’s recent steps towards increasing access to financial advice.
“Once again, these findings reinforce the significant role financial advice plays in the confidence Australians have in their finances, and their prospects for retirement.”
This surge in appetite for advice comes as 76 per cent of respondents indicate that cost of living pressures remain their biggest financial concern (up from 72 per cent in 2025), followed by local inflation at 69 per cent (up from 64 per cent in 2025), housing affordability at 65 per cent (up from 62 per cent in 2025) and the state of the global economy at 63 per cent (up from 49 per cent in 2025).
The report also found that while Australians were consulting a range of information sources – with the younger generation pivoting to digital sources such as artificial intelligence (AI), social media and YouTube – trusted remained concentrated among a select few, including partners (82 per cent), financial advisers (80 per cent), family members (75 per cent) and superannuation or investment providers (73 per cent).
“Australians have more financial information at their fingertips than ever before, but when it comes to important financial decisions, trusted relationships still matter,” Power said.
“Performance will always be important, but financial advice is about more than that. Australians increasingly value the expertise, reassurance and confidence that advice can provide, especially during periods of uncertainty.”