How to find a financial adviser

What do you charge and how much am I likely to pay?

A financial adviser must give you this information before they take you on as a client. Some charge a fixed fee, others a percentage of the value of your pension pot.

What services do you offer? Are you independent?

Again, an adviser is legally bound to give you this information. To be called ‘independent’ they must be able to give you unbiased, unrestricted information based on a comprehensive and fair analysis of the market.

If you’re not independent, can you look at products from across the market?

It’s worth checking this to ensure you are being offered the choice you need to make the right decision.

Do you have the required qualifications?

Since 2013, all financial advisers must have a qualification called QCF level 4. Many will have higher qualifications. It’s always worth your while to check. Some types of advice require more specialised qualifications. For example, pension transfers and equity release.

Do you have many clients who are in a similar position to me?

Some financial advisers will only deal with clients with over a certain sum to invest, while others are happy to advise clients regardless of the size of the investment. It’s always worth finding out if an adviser is experienced in advising clients in a similar financial position to your own.