There’s a quiet but concerning shift happening in Australia’s financial advice industry – and it’s time we talked about it.

Recent industry data shows a continued decline in the number of licensed financial advisers. In the past five years alone, thousands have left the profession, many citing rising regulatory pressures and reduced profitability. In fact, CPA Australia reports the total number of financial advisers has fallen from 26,500 in 2019 to its current level just above 15,000. The result? Fewer advisers to support a growing population of Australians who need help making life‑changing money decisions.

As someone who has spent over two decades helping people navigate self‑managed super funds (SMSFs) and wealth building strategies, I find this trend deeply troubling. And here’s why: the gap in accessible financial advice is widening, right when Australians need guidance more than ever.

The $5 trillion transfer that’s already underway

Overlaying all of this is what experts are calling the greatest intergenerational wealth transfer in Australia’s history. Over the next 20 to 30 years, an estimated $5 trillion in assets will change hands as Baby Boomers pass on their property, superannuation and investments. Much of this transfer is expected to accelerate through the 2030s, as Boomers reach their 80s and estates are settled.

This isn’t just a statistic; it’s a wake‑up call. If you or your family will be part of that transfer, understanding the rules around super, tax, estate planning and investment structures isn’t optional - it’s essential. Without clear guidance, inheritances can be eroded by poor decisions, unnecessary taxes, or compliance breaches.

A perfect storm for money decisions

Cost‑of‑living pressures are biting. Mortgage rates are higher than they’ve been in years. And investment markets are shifting rapidly with new opportunities like crypto and private equity reshaping the landscape.

Add to this the recent record highs on the ASX and the complexity of superannuation rules, and you can see why the average Australian might feel overwhelmed. Historically, we’ve relied on trusted advisers to cut through the noise. But with fewer professionals available – and many focusing only on high‑net‑worth clients – everyday Australians risk being left behind.

Why financial education matters more than ever

I’ve always believed that education is empowerment. And today, with the adviser exodus continuing, it’s not just a nice‑to‑have - it’s essential.

When you understand the basics, you make better decisions.

Knowing how super works, what fees you’re paying, and how to balance risk and return means you’re less likely to fall for poor‑quality products or pay for services that don’t suit your needs.

When you take an interest, you spot opportunities.

Many SMSF trustees I work with started out simply wanting more control. But by educating themselves, they discovered asset classes – like direct property, crypto or ETFs – that aligned perfectly with their goals.

When you know your rights and responsibilities, you build confidence.

This isn’t just about making money; it’s about taking ownership of your financial future.

Self‑education is the future of wealth

You don’t need to become a finance expert overnight. But you do need to start asking questions:

·         What exactly is in my super fund?

·         What fees am I paying, and why?

·         Am I on track for the retirement I want?

·         Could an SMSF or another structure give me more control?

With fewer advisers available, the most powerful first step is to empower yourself. Read reputable sources, attend webinars, join online communities, and don’t be afraid to explore tools and technology that can simplify the complex.

My call to action

At SMSFAI, we’ve built our entire platform around education and transparency. We believe Australians deserve access to clear information and tools that let them see their super and investments with complete control over decision making.

But whether you partner with us or not, here’s my heartfelt advice:

"Don’t wait for someone else to care about your financial future. Make it your business to learn. The adviser exodus is real, but it doesn’t have to mean you’re on your own. It’s an invitation to step up, get informed, and take control.

Because the truth is, no one will ever care about your money as much as you do".