The Alarming State of Financial Advice in Australia

When it comes to financial planning, the numbers tell a clear and important story.

According to Vanguard’s Australian Financial Advice Landscape 2024:

https://fund-docs.vanguard.com/The-Australian-Financial-Advice-Landscape-2024.pdf

• 82% of Australians have never received professional financial advice
• Only 10% are currently working with a financial adviser
• More than 2.6 million Australians have unmet financial advice needs, meaning they would like guidance but are not getting it
• Half of those with unmet needs are unsure where to even begin

60% of people surveyed said that cost is the number one barrier stopping them from seeking advice, with average financial planning costs now exceeding $5,000 to $10,000 per year.

At the same time, Australians are becoming more open to different ways of getting support.

Around 60% say they would be comfortable using digital or hybrid advice models, with many now willing to work with trusted companies online to build their financial future.

The reality is that most Australians are approaching retirement without a clear plan and without professional guidance.

Building a secure future does not happen by accident. It takes early action, good structure, and a genuine willingness to take ownership of your financial life.

When it comes to preparing for retirement, the earlier you start, the more options you will have.

Your financial future is too important to leave to chance.

And the simple fact is that most Australians will not retire independently.

Many will rely on the Age Pension at some point to meet their living costs.

At Runway to Retirement, our priority is to make quality financial education more accessible.

We are building an online platform that connects everyday Australians to the same frameworks and strategies that professional advisers use; strategies designed to support strong long-term outcomes, without the traditional high costs.

We are not here to recommend risky investments or promote get-rich-quick schemes.

We are here to provide you with the tools, resources, and guidance that real advisers use with their clients, so you can build your own financial plan with confidence.

Financial security should not be reserved for the wealthy.

It should be available to anyone who is willing to learn and take action.

The world is changing, and so is the way Australians are preparing for their retirement years.

We are here to support you on that journey.