DIY advice

Knowing more about the world of finance will help if you decide you’ll benefit from financial advice. Undertaking research can help you decide whether you will benefit from personal financial advice. You can find lots of good information about managing your finances through resources such as websites, online videos or educational modules. Many financial companies offer general information about specific products (including product disclosure statements) and financial strategies.  

Upskilling yourself in how to make your money work harder will never be a wasted endeavour - just be sure to use reputable sources with up-to-date materials. Government and industry body sites are a good place to start. Check out the AMP's Insights hub for tips and tools to help you learn more about different ways to reach your goals and own your tomorrow. Or you can visit ASIC’s It has lots of general information about finances.

Once you’ve done your research, you may want to implement some of strategies you’ve read about. It’ll be up to you to tailor the information to your unique situation. This is an important step when thinking about how you may want to structure and plan your finances, but it might not be the optimal way. An experienced financial adviser can help tailor strategies to meet your needs.  

General advice

This type of advice is typically available directly from the product issuer (e.g. super fund, financial institution or insurer) you’re considering. You can also find general advice in the form of support and insights on industry and government websites.

What it means:

General advice means the information provided is broad in nature. It doesn’t take into account your objectives, financial situation or needs. It will inform you about the features of the product or scheme but won’t tell you how it might fit into your own financial situation.

Do I receive a Statement of Advice?

No SOA is issued with general advice.

Is there a fee for general advice?

General advice doesn’t normally attract a fee. You’ll usually be able to find out about what sorts of fees you may face if you go to the next stage and receive personal advice.

Personal advice

This is financial advice that considers your goals, needs or financial circumstances.  It can be scoped to consider one or many different areas including wealth protection, superannuation, budgeting, investments and retirement planning.  

What it means: 

Your financial adviser works closely with you to understand your current situation, your financial goals, your appetite for risk and preference of investments. Using this information, they’ll develop a tailor-made financial plan documented in a statement of advice, detailing each recommendation and strategy, so the steps to achieving your financial goals are clearly outlined. Your adviser may help you implement the agreed advice including the paperwork. You may choose to receive ongoing advice services from your financial adviser to help you review your goals, needs and financial circumstances.

Do I receive a Statement of Advice?


Is there a fee for personal advice?

Personal advice does attract a fee that your adviser will discuss with you. You’ll receive a fee disclosure document clearly stating any financial advice fees.

Learn about the different ways you can access financial advice


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Important Information

Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement, Target Market Determination or Terms and Conditions available from AMP at or by calling 131 267.

Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.