General and personal financial advice

General or personal advice can help you reach your financial goals. General advice does not consider your personal circumstances and is general in nature. Personal advice is more specific and is tailored to your personal situation.

The advice you receive could cover any of these financial products or areas:

  • investing
  • superannuation
  • retirement planning
  • estate planning
  • risk management
  • insurance

Personal and most general advice providers must hold an Australian Financial Services (AFS) licence.

The difference between general and personal advice

General advice

General advice is a recommendation or opinion about a financial product that is not tailored to your personal circumstances. This advice won’t consider your personal circumstances, such as your:

  • income
  • expenses
  • assets
  • liabilities
  • goals
  • risk tolerance

General advice may help you to identify and narrow down your options. But it won’t tell you how to make the best financial decision for your personal situation.

General advice is different to factual information. This information can give you useful facts about a financial product. Examples of factual information may include descriptions of:

  • the basic features of a superannuation account
  • the fees and interest rates on a new term deposit

Factual information is usually free and available from places like websites, banks and seminars. A licence isn’t needed to provide factual information.

Personal advice

Personal advice is a recommendation or opinion tailored to your personal circumstances. It is more specific than general advice and takes into account your financial situation and goals. Personal advice providers must act in your best interest.

Personal advice can include:

  • Simple, single-issue advice — Help with one financial issue. For example, how much to contribute to your super, or what to do if you inherit shares
  • Comprehensive financial advice — Help to develop a financial plan to reach your financial goals. This covers things like savings, investments, insurance, superannuation and retirement planning.
  • Ongoing advice — Regular monitoring and review of your financial plan and personal circumstances.

When general advice might be appropriate

You may want general advice if you:

  • want to compare or confirm your understanding of different financial products. For example, the difference between a managed fund and an ETF
  • are researching and learning about different financial topics
  • don’t want to spend money on tailored advice

You may be receiving general advice if you:

  • were not asked questions about your financial situation, needs and objectives
  • are dealing with someone who will not recommend a specific product for you. They will speak generally about it rather than tailoring it to you

When providing general advice, the advice provider must give you a warning. The provider will:

  • tell you the advice you’re about to receive is general, meaning it doesn’t take into account your own objectives, financial situation or needs
  • prompt you to consider if the advice is appropriate for you before acting on it
  • in some cases, provide you with a Product Disclosure Statement if the advice is about a financial product

When personal advice might be appropriate

You may want personal advice if:

  • Your situation is complex and you need help to work it all out
  • You’re going through a significant life event. For example, buying a house, getting married, transitioning to retirement, redundancy, death of a spouse, or illness
  • You inherited a large sum of money
  • You want to outsource your financial affairs
  • You need specific advice on a topic area and have specific requirements. For example, you want income protection insurance but have health issues
  • You want to ensure you’re on track to meet your financial goals
  • You need help managing someone else’s money. For example, you’re appointed Power of Attorney for someone, or you’re an executor for a deceased estate.

Source:
Reproduced with the permission of ASIC’s MoneySmart Team. This article was originally published at https://moneysmart.gov.au/financial-advice/general-and-personal-financial-advice
Important note: This provides general information and hasn’t taken your circumstances into account.  It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.  Past performance is not a reliable guide to future returns.
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Praise Baroña

Client Services Officer

Praise Barona is a Customer Service Officer at Investlink Group and a Bachelor of Science in Accountancy graduate. She brings a well-rounded background in financial planning support and accounting, with experience as a Financial Planning Assistant and as an intern in a CPA firm.

Through these roles, she has developed strong attention to detail, organisation, and a thoughtful approach to supporting both clients and advisers.

Praise is passionate about delivering a positive and reliable client experience, and is committed to continuing her growth in the financial planning industry.

Lindsay Austria

Marketing Officer

Lindsay Austria is a Marketing Officer at Investlink Group and is currently completing a Bachelor of Commerce (International Business and Marketing) at the University of Sydney.

She brings experience in digital marketing, content creation, and community engagement.

With a passion for storytelling and cross-cultural connection, Lindsay focuses on creating meaningful content that resonates with diverse audiences and builds genuine engagement.

Mary Yousif

Administrative Officer

Mary is a Financial Planning Administrative Officer at Investlink Group, holding a Bachelor of Business with a major in Finance and Management.

She brings a strong client-focused approach, supported by her experience as a Senior Receptionist and Assistant Manager, where she developed skills in communication, problem-solving, and team coordination. Mary is committed to building her expertise in the financial planning sector and contributing to a seamless and supportive client experience.

Sara Jahanbin

Advice Associate and Professional Year Candidate

Sara is an Advice Associate at Investlink Group, with over seven years of experience in the tax and financial planning industry. With a strong background in tax strategy, she brings valuable insight into structuring financial advice that aligns with each client’s broader financial goals.
 
Sara is currently completing her Graduate Diploma of Financial Planning with Kaplan Professional and is working towards becoming a licensed financial adviser. She is dedicated to providing holistic, client-centered support and manages the advice process end to end, ensuring clients receive clear, strategic, and tailored outcomes.

Priyanka Kumar

Financial Adviser

Priyanka is a financial adviser with experience across various areas of advice including superannuation and retirement planning, wealth creation and personal insurance. Her education includes a Bachelor of Applied Finance from Macquarie University and a Graduate Diploma of Financial Planning from Kaplan.

Priyanka enjoys strategising and working towards creating valuable solutions for our clients. She loves meeting our clients, both existing and new, and getting to know them on a personal level and hearing the unique stories they have to share.

Ashish Thadani

Director & Financial Adviser

Financial Adviser / Director of Investlink Group & Excalibur Wealth Group

Ashish has over 20 years of experience as a financial adviser and is passionate about educating his clients on their finances and the financial strategies that he recommends to them.

With a “client comes first” philosophy for the business, Ashish operates with patience, transparency and with the best interests of his clients always in mind.

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