Efforts to increase the low global uptake of financial advice and recognition of financial advice as a trusted profession have been hampered by low financial capability, distrust of financial advisors and soaring costs. While considerable research has been published on the value of financial advice, a synthesis of scholarship is surprisingly absent, leading to a lack of credible information on the outcomes of professional financial advice. To determine the ways in which value has been contextualized and measured and the extent to which value has been substantiated, this themes-based narrative review comprehensively examines tangible outcomes, such as investment performance, and less tangible components of value relating to consumer wellbeing and the client-advisor relationship. We conclude with a conceptual framework of the value of financial advice to support the development of a more rigorous and coherent body of future research and increased transparency for consumers and other stakeholders of financial advice.