Before meeting a financial adviser, it helps to bring documents covering your income, superannuation, debts, investments and regular expenses. This allows the adviser to understand your full financial position and provide accurate, tailored personal advice.
In Australia, when a financial adviser or financial planner provides personal advice to a retail client, they are legally required to consider your individual circumstances. That obligation means advice must be based on clear, up-to-date information about your financial situation, goals and needs — not assumptions.
You do not need to have every document perfectly organised. But the more complete the picture you provide, based on what documents you bring, the more useful and efficient your first meeting is likely to be.
Why documentation matters
When a financial adviser provides personal advice to a retail client, they are subject to legal obligations under the Corporations Act, including the best interests duty. That duty attaches to the nature of the advice, not simply the fact that the business holds an Australian Financial Services Licence (AFSL).
Put simply, personal advice must take into account:
- Your financial situation
- Your objectives
- Your needs
This is different from general information, which does not consider your circumstances. If you are unsure how that distinction works in practice, it helps to understand how financial advice is defined in Australia and when it becomes legally personalised.
If you proceed beyond an initial discussion, the adviser will usually document their recommendations in writing, typically through a Statement of Advice (SOA). The quality and accuracy of that document depend heavily on the information you provide.
It’s also sensible to confirm an adviser’s credentials before sharing sensitive documents. You can verify their status by checking the ASIC Financial Advisers Register and listed qualifications.
Core documents to bring
Most first meetings follow a similar structure. The adviser will want to understand your income, assets, liabilities and long-term goals. Bringing the following documents will help.
Income and employment
These documents help clarify your cash flow position and tax profile. While financial advisers are not credit advisers unless separately authorised, understanding income stability and commitments often informs broader planning discussions.
Examples of these documents are:
- Recent payslips
- Your latest tax return and Notice of Assessment
- Details of bonuses or commission
- Centrelink statements, if relevant
- Business income details if you are self-employed
Superannuation
For many Australians, superannuation is their largest long-term asset. Accurate balances and contribution history are essential for retirement planning projections. Conversations often begin with practical questions such as whether $500,000 is enough to retire in Australia, and your real figures determine what is realistic.
These types of documents would include:
- Your latest superannuation statements
- Details of any old or inactive super accounts
- Insurance held inside super
- Information about defined benefit schemes, if applicable
- If you already have an SMSF, your most recent financial statements
If retirement planning is part of the discussion, any Age Pension estimates you have obtained through Services Australia calculators or official projections can also be useful as indicative reference points.
Assets and investments
This information allows the adviser to review diversification and overall strategy. Where tax considerations such as capital gains tax (CGT) may arise, advisers often work in conjunction with or refer to registered tax agents for detailed tax advice.
You can bring documents such as:
- Bank account balances
- Term deposits
- Share portfolios and managed fund reports
- Investment property details
- Loan statements attached to investments
- Trust structures, if relevant
Debts and liabilities
Debt structure frequently forms part of broader financial planning. Where specific credit advice or refinancing strategies are required, an adviser may coordinate with or refer you to a licensed mortgage broker or credit adviser.
Documents related to the following would be helpful to the adviser:
- Mortgage statements
- Personal loans
- Credit card balances
- HECS-HELP debt
- Business loans
Expenses and living costs
Clients often underestimate how important spending patterns are to long-term projections. Even a simple breakdown of major recurring expenses is usually enough for an initial discussion.
These documents can help provide guidance:
- Recent bank and credit card statements
- A rough monthly spending estimate
Insurance
Insurance is often fragmented across super funds and retail policies. Bringing current schedules helps identify gaps or overlaps.
Documents such as these will help:
- Life, TPD, income protection and trauma policies
- Policy schedules and premium details
- Any cover held within super
Estate planning documents
Superannuation does not automatically form part of your estate, so binding nominations and beneficiary details are particularly relevant.
These documents help the adviser understand the estate:
- Your current will
- Enduring power of attorney
- Binding death benefit nominations for super
If you are seeking advice for a specific reason
Your document list may vary depending on your objective. For example:
- Retirement planning: Super balances, contribution history, and any indicative Age Pension calculations.
- Buying or upgrading property: Savings details, existing loan statements and deposit position.
- Investment review: Portfolio summaries and recent performance statements.
- Major life change (inheritance, divorce, business sale): Legal documentation and updated asset summaries.
If you are unsure whether now is the right time to seek advice, understanding when Australians typically engage a financial adviser can help frame the discussion.
What if you do not have everything?
It is common for documents to be provided in stages.
A first meeting is often exploratory. If you decide to proceed, the adviser will typically provide a formal fact find outlining exactly what is required before recommendations are prepared.
Sensitive information should always be handled securely. Licensed advisers are subject to the Privacy Act 1988 and associated data protection obligations, and reputable firms use secure client portals or encrypted communication channels.
Summary checklist
Below is a consolidated overview of the key document categories and why they matter.
| Document Category | Examples to Bring | Why It Matters |
|---|---|---|
| Income & Tax | Payslips, tax return, Notice of Assessment, Centrelink statements | Clarifies cash flow, tax position and income stability |
| Superannuation | Latest super statements, insurance inside super, SMSF financials (if applicable) | Forms the foundation of retirement planning |
| Investments & Assets | Bank balances, shares, managed funds, property details | Helps assess diversification and overall strategy |
| Debts | Mortgage, personal loans, credit cards, HECS-HELP | Provides context for risk and long-term planning |
| Living Expenses | Bank and credit card statements, spending estimate | Essential for cash flow modelling and sustainability |
| Insurance | Policy schedules and premium details | Identifies gaps or overlaps in cover |
| Estate Planning | Will, power of attorney, binding nominations | Ensures alignment between financial strategy and beneficiaries |
| Total | 7 core document categories | A solid snapshot to support accurate personal advice |
You do not need a perfectly organised folder. A reasonable snapshot of your financial position is enough to begin.
Frequently Asked Questions
Do I need to bring bank statements to a financial adviser?
Yes, in most cases. Recent bank and credit card statements provide insight into spending patterns and savings capacity, which are central to cash flow modelling.
Should my partner bring documents too?
If you are seeking joint advice, both parties’ financial details are relevant. Personal advice must consider the full household position where both partners are involved.
Is it safe to share financial documents?
When dealing with a licensed financial adviser, documents should be handled in line with the Privacy Act 1988. You can confirm an adviser’s registration and employment history on ASIC’s public register before sharing sensitive information.
What happens if I forget something?
That is common. Advisers typically request additional documentation before preparing formal recommendations, so missing items can be provided after the initial meeting.
The Bottom Line
Being prepared for your first financial adviser meeting helps ensure the conversation is focused and efficient. It also reduces the likelihood of delays if you choose to proceed with formal personal advice.
