What I learnt when I met a financial adviser

Holly Black realised that her financial affairs needed urgent attention – but was an adviser the one to help?

Word of mouth is often the best way to find a financial adviser – try asking friends, family and colleagues for recommendations. Your best bet is someone who is at a similar stage of life to you. You can also find a database of independent financial advisers at unbiased.co.uk, where you can search by both region and specialism.

It is worth meeting two or three advisers before you decide who to use – remember that this is someone you need to trust to discuss your financial affairs with, so it’s a big decision.

Check that your adviser has relevant qualifications, such as Chartered or Certified Financial Planner, or that the firm has technical experts who specialise in the areas you need help with.

An initial meeting with an adviser should be free of charge and with no obligation to use their services. You should never feel pressured into using an adviser or any of their suggestions; rather the two of you should be working together.

Make sure you understand exactly how much you will be paying and what you can expect in return. You should be able to choose whether you pay a fixed fee, hourly charges or a percentage of the value of your investments.

Depending on your requirements you may need to meet your adviser once or twice a year, or perhaps just once every few years until your needs become more complex. Advisers can also provide one-off advice if you have a specific problem such as moving a pension or setting up insurance to protect your family.