TL;DR
Hiring a local financial planning assistant in Australia costs between $55,000 and $85,000 per year in salary alone, before superannuation, leave, and overheads. Outsourcing the same role offshore through a dedicated staffing provider costs significantly less — most Australian advice practices save between 50% and 70% compared to onshore hiring, with no payroll obligations, no super contributions, and no long-term contracts.
The cost to hire a financial planning assistant in Australia depends on one fundamental decision: hire locally or outsource offshore. A locally hired financial planning assistant typically commands between $55,000 and $85,000 per year in base salary — and that is before the additional 25–35% in employment costs you will pay on top for superannuation, annual leave, sick leave, WorkCover, and equipment. For small-to-medium Australian advice practices, this is a considerable recurring expense, especially for a role that is largely back-office and administrative. Outsourced financial planning assistance in Australia offers a different model entirely, with most practices reducing that cost by 50% to 70% compared to a comparable local hire.
What is the average salary of a financial planning assistant in Australia?
An experienced financial planning assistant in Australia typically earns between $55,000 and $75,000 per year in base salary, rising to around $85,000 for a senior paraplanning support role in Sydney or Melbourne. Entry-level positions in regional areas can start closer to $48,000, though candidates at this level generally need more hands-on training before they can operate independently.
The real cost of employment goes well beyond the salary figure. Factor in superannuation at 11.5%, annual leave, long service leave provisions, sick leave, WorkCover insurance premiums, and the cost of providing a desk, computer, and software licences — and the true annual cost of a full-time local financial planning assistant climbs to between $70,000 and $110,000 per year.
And that number still does not account for recruitment. Placing a role through a financial services recruiter typically costs between $8,000 and $15,000 per successful hire — a fee that applies again if the candidate does not work out within the first few months.
What does it cost to outsource a financial planning assistant offshore?
Offshore staffing providers offer a fundamentally different cost structure to local employment. Instead of salary, superannuation, and leave entitlements, practices pay a flat monthly fee that covers the dedicated staff member, HR management, IT infrastructure, and ongoing operational support.
Typical monthly fees for a full-time outsourced financial planning assistant range from $2,000 to $3,500, depending on the seniority of the role, the complexity of tasks involved, and the level of experience required.
At the midpoint of that range, the annual cost of an outsourced financial planning assistant sits at roughly $30,000 — compared to $70,000–$110,000 for an equivalent local hire. That gap represents a saving of between 50% and 70% every year, with no payroll obligations attached.
What is included in the cost of an outsourced financial planning assistant?
With an offshore staffing model, the monthly fee covers far more than just the staff member's time. A well-structured arrangement typically includes:
- A dedicated full-time financial planning assistant
- Recruitment, screening, and candidate shortlisting
- HR management and ongoing staff support
- IT infrastructure and secure remote working setup
- Ongoing performance management and retention support
- Replacement at no additional cost if a staff member is not the right fit
What the practice does not pay for: superannuation, annual leave, sick leave, WorkCover insurance, office space, equipment, or recruitment fees. The practice manages the day-to-day work; the provider manages everything else behind the scenes.
What tasks can an outsourced financial planning assistant handle?
An outsourced financial planning assistant can cover the full range of back-office and administrative tasks that fall outside the scope of an Australian Financial Services Licence (AFSL). Typical responsibilities include:
- Preparing Statements of Advice (SoAs) and Records of Advice (RoAs) using the practice's templates
- Data entry and record-keeping across financial planning software and portfolio administration platforms
- Compiling client review packs, portfolio performance summaries, and asset allocation reports
- Preparing Fee Disclosure Statements (FDS) and Ongoing Fee Arrangements (OFAs)
- Managing client correspondence, appointment scheduling, and calendar coordination
- Generating portfolio and investment reports across wrap platforms
- Coordinating compliance documentation and keeping client files audit-ready
- Supporting tax planning file management and liaising with accounting teams where required
The adviser retains full responsibility for advice quality and client outcomes. The outsourced financial planning assistant handles the preparation, administration, and workflow that underpins that advice — allowing advisers to direct more time toward clients and less toward administrative tasks.
How does the cost compare — local hire vs outsourced financial planning assistant?
|
Local hire (Australia) |
Outsourced |
|
|
Annual salary |
$55,000 – $85,000 |
Included in monthly fee |
|
Superannuation (11.5%) |
$6,325 – $9,775 |
Not applicable |
|
Annual and sick leave |
$5,000 – $8,000 |
Not applicable |
|
WorkCover and insurance |
$1,500 – $3,000 |
Not applicable |
|
Equipment and software |
$2,000 – $5,000 |
Included |
|
Recruitment fee |
$8,000 – $15,000 |
Included |
|
Total first-year cost |
$77,825 – $125,775 |
$24,000 – $42,000 |
|
Ongoing annual cost |
$69,825 – $108,775 |
$24,000 – $42,000 |
The first-year saving on a single role can exceed $50,000. For practices carrying two or more support staff, that cumulative saving is large enough to meaningfully shift the operating cost structure of the business. Many Australian advice firms that have transitioned to offshore financial planning support report that the first-year saving alone frees up budget for additional adviser capacity or client growth initiatives they had previously deferred.
Is the quality of work comparable to a local hire?
Yes — provided the offshore staffing provider recruits specifically for financial services roles rather than general administration. The quality gap that some practices worry about typically comes from choosing a generalist virtual assistant provider rather than one that places staff with direct experience in Australian advice practices.
Financial planning assistants placed through specialist providers are familiar with Australian regulatory requirements, financial planning documentation standards, and the workflows used by advice firms operating under an AFSL. They are trained back-office professionals who understand SoAs, RoAs, FDS documents, client review processes, and the compliance expectations of Australian licensees — not generalists who happen to be available.
The most consistent predictor of quality in any outsourced role is onboarding and process clarity. Practices that invest two to four weeks in structured onboarding and document their workflows before the start date consistently report that output quality meets or exceeds what they experienced with previous local hires.
What should you look for in an outsourced financial planning staffing provider?
Not all offshore staffing providers are the same. When evaluating options for financial planning support, there are several factors worth examining closely:
- Specialisation — does the provider recruit specifically for financial services roles, or are they placing generalist admin staff?
- Recruitment process — are candidates shortlisted and interviewed before you see them, or are you handed a raw pool of applicants to sort through yourself?
- Data security — does the provider hold a recognised information security certification such as ISO 27001:2022?
- Replacement policy — if a placement does not work out, is there a cost-free replacement process?
- Ongoing support — does the provider manage HR, IT, and staff welfare, or does that responsibility shift to the practice?
A provider that specialises in Australian financial services, holds ISO 27001:2022 certification, and offers a structured replacement guarantee significantly reduces the risk of the arrangement compared to a general-purpose offshore staffing platform.
Frequently asked questions
Q: How much does it cost to hire a financial planning assistant in Australia locally? A local financial planning assistant in Australia typically earns between $55,000 and $85,000 per year in base salary. When you add superannuation, leave entitlements, WorkCover, equipment, and recruitment fees, the true first-year cost sits between $77,000 and $125,000 depending on the role and location. Sydney and Melbourne roles tend to sit at the higher end of that range.
Q: How much can I save by outsourcing my financial planning assistant? Most Australian financial planning practices that outsource offshore save between 50% and 70% compared to the equivalent local hire. On a single full-time role, that typically translates to $40,000 to $70,000 per year — with no superannuation, no leave loading, and no recruitment fees to absorb. The saving compounds each year the role remains filled. See how financial planning outsourcing works for Australian practices and what the onboarding process looks like from day one.
Q: Is outsourcing a financial planning assistant compliant with AFSL obligations? Yes. Outsourcing administrative and paraplanning support tasks does not breach AFSL obligations, provided the practice retains full responsibility for the advice delivered to clients. The outsourced financial planning assistant handles preparation and support tasks — not the provision of financial advice itself. The adviser reviews, approves, and owns every piece of work before it reaches a client.
Q: How long does it take to onboard an outsourced financial planning assistant? Most practices are operational with their outsourced assistant within two to four weeks of initial contact. The process covers a scoping consultation, candidate shortlisting, interviews with the top candidates, and a structured start date. If the first placement is not the right fit, a reputable provider will find a replacement at no additional cost.
Q: What is the difference between an outsourced financial planning assistant and a paraplanner? A financial planning assistant handles administrative and back-office support tasks — client file management, data entry, correspondence, compliance documents, and review pack preparation. A paraplanner focuses specifically on advice document preparation, including strategy research and drafting SoAs and RoAs. Offshore staffing providers can fill either role depending on where the practice needs the most support.
Q: Do I need to provide equipment or software for an outsourced financial planning assistant? No. A full-service offshore staffing provider supplies all hardware, IT infrastructure, and secure remote working setup for the staff member. The practice provides access to its software systems — the financial planning platform, client management tools, and any workflow systems in use. The assistant logs into the practice's environment and operates within existing processes from day one.
Q: Can I hire a part-time outsourced financial planning assistant? Yes. Most offshore staffing providers offer both full-time and part-time arrangements. Part-time roles suit smaller practices that need consistent support but do not yet have the volume to justify a full-time hire. It is worth discussing workload and task volume upfront so the arrangement is sized correctly from the start.
Understanding the true cost to hire a financial planning assistant in Australia — locally or offshore — is the starting point for making a sound staffing decision. A local hire costs between $70,000 and $125,000 in the first year when all employment costs are included. An equivalent outsourced role costs between $24,000 and $42,000 per year, with no super, no leave obligations, and no recruitment fees. The saving is real, the quality is comparable when the right provider is chosen, and the onboarding process takes as little as two to four weeks from first contact to start date. For practices that are ready to explore the option, the numbers make a compelling case.