In case, you have decided to get guidance from a financial adviser, the main step is to choose one. Choosing the right financial consultant is the best way to ensure maximum benefits from your investments.
Here are some tips to help you reach out to the best consultant:

Understanding Your Needs

Financial advice is of different types. You may want advice about retirement, pension, child education, business loan, and much more. It is important to get in touch with a consultant holding expertise and experience in that specific field. For a complete / comprehensive financial plan, speak to an adviser who offers the entire package as compared.


Make sure you check the qualifications of the consultant before hiring one. The Retail Distribution Review (RDR) legislation demands all financial consultants hold qualification to a specific level. However, it is still crucial to check what qualifications they actually have. Also look out for some extra qualifications. This will let you know if they have gone that extra mile needed.

Negotiation of Fees

Although fees quotes are easily available online and these offer a clear idea of what’s being charged, there’s absolutely no need to take these quotes as gospel. In case, you believe you can pay less for the services, discuss it with the consultants.

Hard Copy

It is important that you get all rules and regulations related to services in advance. Ask for a hard copy of the recommendations of adviser. In case, you have doubts about anything, let the adviser explain the things to you.

Personalized Service

Generic advice will not do any good to you. These can be applied to anyone. So get a consultation session that is specifically designed for you and your unique situation. Also ask questions about the suitability of the suggested products with your situation.

Legitimacy of Adviser

It is important that all financial consultants are registered with the FSA. You can check on the official website ( to see whether the adviser you contact is registered. Enquire if they are members of a professional body. This makes sure they adhere to a standard code of ethics and practice.

Minimum Level of Information to Expect

A financial adviser must be able to make you understand information related to financial planning firm and the way it is funded. They should give you a document of Key Facts related to the products and services recommended to you. The document will answer all questions related to the investment aim, commitment, risks of advice, tax position etc.

Questions to Ask

  • Can I expect standard advice or a structured planning according to my needs?
  • Will a transparent fee for service charging structure be offered to me?
  • Will you offer products from all over the market or only a selected range of companies preferred by you?
  • Do you hold ample experience in dealing with people like me? Have you handled situations similar to mine?
  • Can I expect other expertise from outside your proficiency such as tax planning or legal planning, when required?
  • What is the qualification of your staff? How are they remunerated?
  • Can I speak to one of your clients prior to committing to using your services?
  • How long it takes to develop the initial strategy?
  • How much time and fees do I have to commit towards the service?
  • What is the level of expertise level your firm has in terms of financial investment, planning, and tax expertise?
  • Who should I complain if things go wrong due to the recommendations made?

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