When choosing a financial adviser, you need to consider several factors.
- What do I need from my financial adviser?
You may require an adviser who is a specialist in a certain area. - How much are you looking to invest?
Some firms have a minimum amount of investment to enable you to become a client of theirs. A good financial adviser can help you to understand what you need to invest to meet your financial objectives. - Positive feedback is crucial when looking for a highly rated financial adviser as this will give you peace of mind. Look at reviews, positive feedback such as testimonials and client stories.
- Look at the structure of the firm, are they going to be around in the next 10 years? You don’t want your adviser to be retiring the year after you join them having to go through the process of looking for a new financial adviser all over again.
- Transparency – Is the adviser open and honest with what they are charging you. Make sure the adviser explains fully what they will be charging and how you will be charged, the last thing you want are hidden fees.
- Accreditation are they a Chartered firm, have they been given any industry awards such as the FT Adviser Top 100 status? Awards give you a great insight into how the firm is run and what its clients think of them.