Frequently Asked Questions

Q: Who are the best financial planners in Sydney?

The best financial planners in Sydney hold current registration on ASIC’s Financial Advisers Register, operate under a valid Australian Financial Services Licence, and provide advice across superannuation, retirement, insurance, and estate planning.

Forest Wealth was named 2025 Advice Practice of the Year and employs 11 qualified advisers across three Sydney locations: Chatswood, Hornsby, and Sutherland, and we service all areas of North Shore, Inner West, South Sydney, Central Coast, and greater Sydney.

All advisers are authorised representatives of Millennium3 Financial Services Pty Ltd (AFSL 244252) and are individually listed on the ASIC register.

Q: Does Forest Wealth offer video or phone consultations?

Yes. Forest Wealth offers consultations by phone, video, or in person across three Sydney offices: Chatswood (Level 12, 67 Albert Ave), Hornsby (Suite 1A, 19 Hunter St), and Sutherland. Clients outside Sydney can be serviced remotely.

Q: How much does financial advice cost in Sydney?

The first consultation is always free with no obligation. Ongoing advice fees vary depending on the complexity and type of advice required, such as retirement planning, superannuation, or insurance.

Fees are disclosed upfront in a Statement of Advice before any work begins. Forest Wealth fees reflect the specific advice you need, not a one-size-fits-all package.

Q: How do financial advisers protect your money from loss?

Every client has a different risk tolerance, and Forest Wealth builds investment strategies around yours. If you want capital guaranteed investments, products where your initial investment is protected regardless of market conditions, your adviser will recommend options that meet that requirement.

For clients comfortable with market exposure, a diversified portfolio across asset classes reduces the risk of significant loss. No investment strategy eliminates all risk, but your adviser will never place you in investments beyond your stated risk appetite without your explicit consent.

Q: How do I know if a financial adviser in Australia is legitimate?

You can verify any Australian financial adviser on ASIC’s Financial Advisers Register at moneysmart.gov.au. The register shows their licence number, authorised representative number, qualifications, and any compliance history.

Forest Wealth advisers are listed individually with their AR numbers under Millennium3 Financial Services Pty Ltd (AFSL 244252). Always check the register before engaging any adviser.

Q: What is the difference between a financial adviser and a financial planner in Australia?

In Australia, the terms financial adviser and financial planner are used interchangeably and refer to the same licensed role. Both must hold an Australian Financial Services Licence (AFSL) or operate as an authorised representative of a licensee.

Forest Wealth advisers are authorised representatives of Millennium3 Financial Services Pty Ltd (AFSL 244252) and hold individual AR numbers, meaning they are legally qualified to provide personal financial advice.

Q: When should I start retirement planning in Australia?

Ideally, retirement planning starts at least 10 to 15 years before your target retirement date, giving you time to maximise superannuation contributions, restructure investments, and assess Age Pension eligibility. However, starting at any age improves outcomes.

Forest Wealth works with clients at every stage, whether they are just starting to think about retirement or are already retired and looking to optimise their income.

Q: How does superannuation work in Australia?

Superannuation is a compulsory retirement savings system where your employer contributes a percentage of your salary into a super fund throughout your working life.

As of 2026, the Superannuation Guarantee rate is 12%. Contributions are taxed at 15%, significantly lower than personal income tax rates of up to 47%. You can access your super once you reach your preservation age (between 55 and 60 depending on your birth year) and meet a condition of release.

Q: What types of superannuation funds does Forest Wealth advise on?

Forest Wealth provides advice across all major superannuation fund types, including industry funds, retail funds, corporate funds, wraps, and self-managed super funds (SMSFs). Advisers do not favour one fund type over another.

The recommendation is based on your individual goals, fees, investment options, insurance needs, and overall financial situation. Current clients hold a mix of fund types, reflecting Forest Wealth’s fund-agnostic approach.

Q: Do I have to change my super fund or investments if I move to Forest Wealth?

No. Forest Wealth does not require you to change your existing superannuation fund or investment products. If your current product remains in your best interest, your adviser will not recommend switching.

If a better product exists for your situation, your adviser will present the case in writing via a Statement of Advice, and you retain full decision-making authority. No switch happens without your written consent.

Q: Does Forest Wealth recommend industry super funds or retail funds?

Forest Wealth is fund-agnostic and recommends whichever fund type best suits your individual situation. Current clients hold a mix of industry funds, corporate funds, retail funds, wrap platforms, and self-managed super funds (SMSFs).

The recommendation is based on your fees, investment options, insurance needs, balance size, and financial goals, not on any commercial relationship with a particular fund provider.

Q: What is an SMSF and is it right for me?

A self-managed super fund (SMSF) is a private superannuation fund you control, with up to six members. You act as both trustee and member, giving you direct control over investment decisions. SMSFs suit people with larger super balances (generally above $200,000) who want investment flexibility and are willing to take on compliance and administration responsibilities.

Forest Wealth provides advice on SMSFs alongside industry, retail, and corporate fund options to match you with the most appropriate structure.

Q: How does the Age Pension work in Australia?

The Age Pension is a government payment available to Australians who have reached pension age (currently 67) and pass both an income test and an assets test. The amount you receive depends on your income, assets, and whether you own your home.

A financial adviser can help you structure your superannuation and assets to maximise your Age Pension entitlement while staying within Centrelink rules. Forest Wealth integrates Age Pension strategy into all retirement plans.

Q: What is deeming and how does it affect my Centrelink payments?

Deeming is a Centrelink rule that assumes your financial investments earn a standard rate of income, regardless of what they actually earn. This deemed income is counted in your income test and affects how much Age Pension you receive.

Deeming rates are set by the government and apply to assets such as bank accounts, shares, and managed funds. A financial adviser can help you understand how deeming affects your entitlements and whether restructuring assets could improve your pension payment.

Q: What is income protection insurance and do I need it?

Income protection insurance replaces a portion of your income, typically up to 70%, if you are unable to work due to illness or injury. It pays a monthly benefit for a set period or until you recover and return to work.

Most Australians underestimate the risk of being unable to work for an extended period. A financial adviser can assess your existing cover (including any held inside super), your expenses, and your income to determine the appropriate level of protection.

Q: What does life insurance cover and how much do I need?

Life insurance pays a lump sum to your nominated beneficiaries upon your death. It is designed to cover debts such as a mortgage, replace lost income for dependants, and fund future expenses like children’s education.

The amount you need depends on your outstanding debts, annual income, number of dependants, and existing savings. Forest Wealth assesses each client’s situation individually to avoid over-insurance or underinsurance while keeping premiums affordable.

Q: What is trauma insurance in Australia?

Trauma insurance, also called critical illness insurance, pays a lump sum if you are diagnosed with a specified serious medical condition such as cancer, heart attack, or stroke. Unlike income protection, it pays regardless of whether you can work.

The lump sum can be used for medical costs, rehabilitation, home modifications, or maintaining your lifestyle during recovery. Forest Wealth advises on trauma insurance as part of a broader personal insurance strategy.

Q: What does aged care financial advice cover?

Aged care financial advice covers the financial decisions involved in transitioning to home care or residential aged care. This includes understanding fee structures such as the basic daily fee, means-tested care fee, and accommodation payments.

It also includes decisions about whether to sell or retain the family home, the impact on the Age Pension, and Centrelink eligibility. Forest Wealth holds Aged Care Steps Accredited Aged Care Professional status, which is the recognised standard for aged care advice in Australia.

Q: How does moving into aged care affect my Age Pension?

Moving into residential aged care can affect your Age Pension because Centrelink reassesses your assets, including whether your former home is counted in the assets test. If you sell your home, the proceeds may reduce your pension. If you retain it and rent it out, rental income is assessed.

The timing of decisions and how you structure accommodation payments can significantly affect your ongoing pension entitlement. A financial adviser experienced in aged care can model these scenarios before you commit.

Q: What is estate planning and why do I need a financial adviser for it?

Estate planning is the process of arranging how your assets will be distributed after your death, including wills, trusts, beneficiary nominations on superannuation, and powers of attorney. A financial adviser works alongside your solicitor to ensure your estate plan is tax-effective and aligned with your financial structure.

Superannuation does not automatically form part of your estate, so binding death benefit nominations and trust structures require specific financial and legal coordination. Forest Wealth coordinates estate planning across all of these elements.

Q: Can I stay with my current super fund if I move to Forest Wealth?

Yes. Forest Wealth does not require you to change superannuation funds or investment products. If your existing product remains in your best interest, your adviser will not recommend a switch.

Any product change requires your written consent and must be supported by a Statement of Advice demonstrating it is in your interest. You retain full decision-making authority at all times.

Q: What investment options does Forest Wealth recommend?

Forest Wealth uses a diversified, evidence-based investment approach covering Australian and global equities, property, infrastructure, alternative investments, bonds, fixed income, and cash.

Investment decisions are guided by an Investment Committee that partners with Evidentia Group, drawing on expertise from Lonsec Investment Solutions and Implemented Portfolios. The committee meets quarterly for formal reviews and monthly for interim updates. The mix of index ETFs, smart beta, and active managers is tailored to each client’s risk profile and goals.

Q: What is a Statement of Advice (SOA) in Australia?

A Statement of Advice is a legal document that a licensed financial adviser must provide before implementing personal financial advice. It outlines the advice given, the reasons for the recommendation, any fees charged, the adviser’s AFSL details, and any conflicts of interest.

In Australia, receiving an SOA is a legal requirement under the Corporations Act. Forest Wealth provides an SOA for all personal advice engagements.

Q: What is cashflow management and how can a financial adviser help?

Cashflow management is the process of tracking income and expenses to ensure you live within your means, reduce debt, and direct surplus income toward savings or investments.

A financial adviser helps you build a cashflow plan aligned with your short and long-term goals, whether that is paying off a mortgage faster, building an investment portfolio, or ensuring you have enough income in retirement. Forest Wealth integrates cashflow planning into all comprehensive advice engagements.