I genuinely believe a good Financial Adviser (also known as Financial Planner) will add massive value to most people’s lives. This doesn’t mean however, that every Financial Adviser will be right for you.
Finding the right Financial Adviser is a journey of discovery and it’s vitally important you put the time in to find the right one for you. Once you find the right relationship it will be life changing.
How to find a Financial Adviser
As with most things, the internet has made it easier than ever to find a Financial Adviser and even better, get to know them before you even decide to make contact.
Here are a few suggestions:
- Google ‘Financial Adviser in (your area)’ and you will be presented with a host of Adviser websites.
- Check for companies that have Google star rankings as this should contain feedback from people who have used them.
- Unbiased and Vouchedfor are two of the leading directories of Financial Advisers.
- You can enter your postcode, see profiles of Advisers close by and see what sort of services they offer.
#Presentations, seminars and books
- Many Advisers run local seminars and give presentations at various networking events.
- You might get to hear some useful insights in the comfort of a crowd before you contact the person one on one.
- Ask a friend for a recommendation.
- We all like to trust those closest to us.
- Do make sure you make you own mind up though after meeting your friend’s Adviser. They may have a different personality to you and therefore the Adviser might not be right for you.
When contacting a Financial Adviser ask them these questions
There is no such thing as one type of Financial Adviser. There are a whole range of different levels of qualifications, advice specialities and service levels.
So when you find a Financial Adviser you plan to contact, here are a set of questions you should ask them.
- What is their Financial Conduct Authority (FCA) registration number? You can then look this up on the FCA register to make sure they are genuine.
- Are they independent or restricted? An independent adviser will be able to recommend all types of advice from the whole market of products. A restricted adviser may only advise in one area and/or from one provider.
- What is the highest level of qualification they have? A Chartered Financial Planner or Certified Financial Planner is usually the ultimate in advanced qualifications and professionalism.
- How do they charge for their service? Whilst it’s difficult to provide exact fees upfront as every client is different, a Financial Adviser should be able to tell you whether they charge fees as a percentage of the money they manage for you, charge by the hour or flat fixed fees. You also need to find out whether they charge initial fees and ongoing fees.
- What type of clients do they typically deal with and what is their area of expertise? It’s always best to deal with an adviser who is used to dealing with people like you.
- How do they provide the advice? Will they come to you? Be flexible on times?
- Will they require you to hand over lots of personal financial information before the first meeting when you haven’t even met? The first meeting should be all about getting to know each other. You don’t want to spend hours preparing for a first meeting that might not go anywhere.
Ultimately a good look at the website, testimonials from other clients and a good chat with the Financial Adviser should give you a good indication as to whether the relationship will be right for you.
If you are considering using a Financial Adviser but are not quite ready just yet then please join our Financial Freedom mailing list below. You will receive tips and insights into good financial planning techniques. If you have any questions please don’t hesitate to give us a call.
Stock market linked investments and any income from them, can fall as well as rise and is not guaranteed. Any figures quoted are for illustrative purposes and should not be taken as a forecast or guarantee. Past performance should not be seen as an indication of future returns and clients may get back less than they have invested.