Consumer Group Adviser Ratings said the average cost of financial advice last year was $3529 and only 1.9 million people received it, which was a record low.
Now- the Treasury is conducting a national review to try to simplify the system and improve accessibility.
The language used in financial advice is often difficult for anyone to understand - let alone those whose English is not their first language.
University of Newcastle report found a third of all Australians are financially illiterate, meaning they lack the ability to understand and use a range of financial skills, including personal financial management, budgeting and investing.
AMES Australia provides English language training, employment services, community engagement and settlement support for migrants, refugees and asylum seekers.
