Things to Look for When Choosing a Financial Adviser

Finding a good financial adviser you can trust is important. You are going to be asking them to help you make some of the most important decisions in your life. So it is worthwhile spending time choosing the right person or firm.

So what should you look for when choosing a financial adviser?

  1. Are they Independent or Restricted?

Independent Advisers will offer advice on the full range of investment products; they will make a fair and comprehensive analysis of the relevant products available and recommend a suitable one for you given your circumstances.

Restricted advisers will only recommend certain types of investment products, or they’ll recommend a wide range of product types but from a limited number of providers.

There is not necessarily a right or wrong approach – it is whatever approach you prefer and to make sure you understand what the scope of the advice is likely to be.

  1. Do they have relevant Qualifications?

Advisers should be qualified to Level 4 in Financial Advice and have a Statement of Professional Standing to show that they are keeping up-to-date with their professional development

  1. What is their Experience?

How much experience do they have and how relevant is it.

  1. Are they FCA Authorised and approved to give advice.
  2. What is their Fee Structure and how transparent is it?

Do you know what you will pay?

By the hour; set fee for set task, or as a % of assets invested

Do they earn commissions on protection products.

  1. Trust and Relationship.

Do I trust the adviser to look after my best interests?

Can I get on with them and forge a long-term relationship with them?

Will they give me personalised advice not just a generic solution?

Is the adviser able to explain things in terms that I understand?

  1. Recommendations and Testimonials.

Whether someone you know has recommended the adviser

What other people have said about them



Sarah Pohlinger