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Financial Advisor Local - A Directory Of UK Financial Advisors

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Tips for Choosing a Financial Advisor

There are several money related matters that a financial adviser can help you with, from getting a cheaper mortgage and helping you with tax issues to planning for your retirement and making sure you are adequately insured. They are the experts who can help you through the legal minefield and get you the best deal for your money.

However finding a financial advisor that can advise you on your particular situation should not just be a case of picking a name and number out of a directory. If you want to get the right person for the job then you will probably need to do a bit of work beforehand.

Firstly you need to get your paper work together. Whether you are looking for a new product (i.e. sort out a pension) or to replace an existing financial product (i.e. remortgage your home), try and get all the relevant information together before you start. Then you need to take some time to think about what your financial goals are, both in the short term and the long term. This is especially important if you are looking for an Independent Financial Advisor who is likely to ask you lots of questions before looking for the financial products you need.

The next thing you need to do is to shop around armed with a few pertinent questions that should help you choose a financial advisor that can really help you. This can be done over the phone or by taking advantage of the free initial session that many offer. The sort of questions you need to ask include:

  • What qualifications do you have?
  • Look out for the terms Certified Financial Planner (CFP), Chartered Financial Consultant (ChFC), Certified Public Accountant (CPA) and Fellow of The Personal Finance Society (FPFS).
  • Are you independent or a tied? - So you know what range of products you will have a choice of.
  • What areas do you specialise in? - You want to find someone who has a good knowledge of the financial areas you're interested in.
  • How long have you been working in this location? - The more experience they have the better.
  • How will you be paid for the advice you give me? - This can be commission or fee based and you may find that a fee based financial advisor will cost you less.

The important thing is that you feel completely comfortable with the financial advisor you choose and if you're not, then keep looking!