If you approach a financial adviser for help, what should you ask him or her? Here are the Financial Conduct Authority's 10 Questions To Ask A Financial Adviser.
It is important that you ask the right questions so you can make an informed choice. The following 10 questions are available on the Financial Conduct Authority website but I thought I would summarise them here. I hope you find them useful.
- Are you approved by the FCA? (Also check the FCA Register)
- What experience and qualifications do you have? (Diploma is now the minimum requirement)
- What type of advice do you offer? (independent, restricted, tied?)
- What are you charges? (initial fees? report fees?)
- Can the cost of advice be deducted from my investment? (or a fees paid direct?)
- How do you assess my financial needs? (what is the 'discovery' process?)
- How do you assess whether an investment has the right level of risk for me?
- How will I receive the advice? (face to face, email, telephone?)
- Do you offer on-going service? (what does this involve?)
- How often will you review my investments wth me? (6 monthly, annually, never?)
Please contact me on firstname.lastname@example.org or 0117 966 5699 where we can answer these questions for you and more.