The best Financial Advisers
The more complex your financial situation, the more likely you are to benefit from financial advice
Independent Financial Advisers (IFAs) can advise across all areas and markets without restriction or bias. They are impartial, objective, offering the whole range of financial products and services.
Non-independent advisers, are representatives of one company and can only offer and advise on products and services from this firm.
This link takes you to the Financial Conduct Authority for a description of the different kinds of financial advisers.
What to look for to get a great adviser
A Financial Adviser or Planner needs to work for you and really be on your side. It should feel like they’re sitting on your side of the table, looking out at the whole marketplace as your guide for what is right for you.
Every meeting is a journey and you should not feel under any pressure.
Meetings should be explained in a manner that is clear to you. We are all different and often need more than one explanation. We need pros and cons and examples of different solutions. Explanations should never go over your head. If they do, as can often happen, there is never a wrong question to ask.
Advisers who are not Independent are not able to offer you the whole marketplace. They must sit on the opposite side of the table with only their own products to sell you.
Meetings
Your first meeting should be free. This is to give you the chance to get a sense of whether you’re comfortable with them and how they work.
Understanding an adviser’s explanation perfectly, is essential.
If you lose the thread, ask for more detail.
It’s their fault, not yours if you don’t understand.
Non-Independents can charge more than Independent Advisers, this is the case with the largest of these non-independent adviser firms. Over-paying on fees and costs reduces your retirement pension.
Experience and qualification mean a something.
Chartered Financial Planners offer the highest professional standard and qualification. That said, there are many excellent advisers who have not yet fully qualified at this level. Ideally, for investments, find someone who has a depth of investment knowledge. You can usually tell when an adviser is short on knowledge, because their explanations skim over the answer and you never actually get a full and proper answer your question. A good adviser will say they need to come back to you with the complete answer, if they can’t fully answer your question. And they should always come back to you,
Charges
Good advice is not free, so expect to pay. Fees can vary, take note and compare up-front and ongoing charges. You should never have to pay a charge to sell an investment especially if you choose to move to another firm. It’s a personal business and your adviser might move away, so you might want to change. Always read their Terms of Business very carefully and ask a lot of questions.
READ the FCA register of financial advisers and adviser firms. This will show you who an adviser works for, has previously worked for and their history and qualification status.
This register is a MUST LOOK before you commit yourself.
You can clearly see the full history of the adviser and the firm.
Register of Financial Advisers
All Financial Advisers must be regulated by the Financial Conduct Authority (FCA) and this link will take you to the register of financial advisers. Use the ‘Search the Register’ link to get full details and a history of every adviser and adviser firm.
Find an Adviser
Find an Advisor lists around 22,000 qualified financial advisers who can help you make the right financial decisions.
Advisers are accredited by the Personal Finance Society (PFS), the professional body for financial advisers in the UK. The PFS is part of the Chartered Insurance Institute (CII) Group. Find an Adviser is not a commercial enterprise – they do not charge members to be listed, or consumers to search.