Finding a Financial Adviser

Finding a Financial Adviser

Seeking professional advice from a qualified financial adviser is often a shrewd move in getting the most out of your money. Yet many of us may be at a loss on what we should consider when choosing a financial adviser.

Below are some of the key questions you might like to ask when making your decision:

Does your chosen adviser specialise in the area that you would like advice on (mortgages, annuities, pensions etc)?

Some advisers specialise in one area, others cover a range of areas, choosing the right one depends on the depth or breadth of advice that you are seeking. Cheap Flight to Popular Holiday Destinations.

Is your chosen adviser authorised by the Financial Services Authority?

You should check with the FSA before taking or paying for any advice. Firms that are not registered should be avoided. Any reputable company should be registered with the FSA.

Is your chosen adviser independent?               

Financial advisers enjoy differing levels of independence. An independent financial adviser should give you a service tailored to your needs offering a range of products from across the market. If your adviser is not independent they can usually only advise you on their own products, and this may severely limit your options. Financial advisers who are tied to a particular company can be useful if you only want advice on their particular products and have already researched the wider market. Don’t be afraid to ask directly if they are properly independent.

What will the advice charges be?

Although most advisers will offer a free initial consultation it is important that you fully understand what future costs may be, and agree whether they will be paid on a fixed fee or commission basis.

Have you done your basic research?

Whatever kind of product you are looking for advice on you should have a basic awareness of what is on offer, and what your aims are to avoid any risk of coming away with a product entirely unsuitable for your needs.

Can you see yourself developing a rapport with your adviser?

Trust is important. Your financial adviser may help you to make some of the most significant financial decisions of your life, so you should feel completely comfortable with them.

Once you have considered these questions and found a financial adviser to suit your needs, you should maintain regular contact with your adviser to ensure that you fully understand how your money is being managed.

The financial world is becoming increasingly complex, with a huge range of products available to the consumer. Whether you’re looking for advice on pension schemes, annuities, investments, mortgages or any other financial decisions affecting you or your company. Finding a reliable independent financial adviser can help you consider the full range of options available. Advise Marketing.