Do I need a financial plan?

What is a financial plan?

No matter what your goals are in life, it’s important to plan ahead. A qualified financial planner can provide support to set goals and develop a practical plan to help you achieve them. As you move through life and your circumstances and needs change, a financial planner can review and tailor your plan, to ensure it’s still right for you.

Who is financial planning for?

It’s never too early or too late to start a plan. Financial planning can help different people at different stages of life - whether you’re starting out in your career, enjoying your retirement, or you’re somewhere in between. The sooner you start planning the more time you’ll have to achieve your financial goals and build the lifestyle you want.

How can a financial plan help me?

At any stage of life, having a plan in place can provide you with the comfort of knowing you’re on track to achieve your financial and lifestyle goals.

Your plan can include, but isn’t limited to:

  • Setting your short and long-term financial goals to fund your desired lifestyle
  • Getting the right level of insurance to protect your income, lifestyle, family or business
  • Growing, managing, accessing or consolidating your super, based on current legislative rules 
  • Recommended investment strategies
  • Making a smooth transition towards retirement
  • Downsizing and making the most of any excess funds
  • Paying down your mortgage
  • Managing an inheritance
  • Navigating home and residential aged care options
  • Managing an estate plan
Surfer on beach

How does financial planning work?

1. Get in touch

Make an appointment to meet with one of our qualified financial planners. Your first meeting is completely obligation-free and will be at a branch or over the phone.

2. Your first meeting

Get to know your planner and discuss your financial situation and goals. They will explain any costs involved in building your financial plan.

3. Building your plan

If you agree, your planner prepares a tailored financial plan, with strategies to help you reach your goals.

4. Implementing your plan

Your planner presents your plan with their recommendations. If you proceed, your planner puts your plan into action.

5. Staying on track

Over time, your circumstances may change so reviewing your plan regularly can help keep it on track. Contact your financial planner to arrange a review.

What does it cost?

Tailored to suit you

Each plan is tailored to suit individual circumstances so costs vary. Your first appointment with a financial planner is obligation-free and your planner will clearly explain the costs involved up front.

Ways you can pay

There are a number of different ways you can pay for your plan - including direct debit via your bank account, by credit card or through your super account. Speak to your planner about how you might use one of these options to pay for your plan.

Ready to talk to someone?

You can visit a branch or simply request an appointment online to speak with a financial planner over the phone or by Microsoft Skype video conference.

Request an appointment

Learn more about financial planning


Grow your wealth with a strategy matched to your personal financial goals.

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Get the cover you need to protect yourself, your family and your lifestyle. 

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Super and retiring

Plan your financial future so you can enjoy your ideal retirement. 

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Aged care

Explore your options and make a smooth transition into high-quality care.

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Looking for something else?

Free financial health check

Need help consolidating and managing your debt or organising your banking products and services? CommBank offers a free 'health check' that can show you how to make the most of your bank accounts, minimise fees and maximise your savings.

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Buy or invest in property

Explore our tools, updates and tips or speak with one of our Home Lending Specialists about buying a home or investing in property.

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CommBank tools to help you start saving

Savings Calculator

Find out how much you could save and how long it will take you to reach your goals. 

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Budget Planner

Work out where your money is going and set yourself guidelines for spending moving forward.

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Better understand your financial wellbeing

Know if you’re where you want to be after a few quick questions.

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Things you should know

This web page contains general advice only. It was prepared without taking into account your objectives, financial situation or needs. You should talk to a financial planner before making a financial decision. Commonwealth Financial Planners are representatives of Commonwealth Financial Planning Limited ABN 65 003 900 169, AFSL 231139, a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. While care has been taken in the preparation of this web page, no liability is accepted by Commonwealth Financial Planning, its related entities, agents and employees for any loss arising from reliance on the content.