Choosing the right person to handle your financial affairs is, of course, extremely important, but finding a financial adviser most suited to you and your needs can be something of a challenge.
True Bearing Chartered Financial Planners, a firm of independent financial advisers, based in Euxton, Lancashire, outline what you should consider when choosing a financial adviser.
Think about what it is you’re looking for
Know your needs before you set out to find the right adviser for you. Depending on the type of advice you need (investments, pensions, retirement planning, etc) will assist with your selection of financial advice.
Independent or restricted advice
This is probably the most important question you can ask.
There are two types of adviser: independent financial advisers (IFAs) and “restricted” advisers.
An adviser or firm that provides independent advice is able to consider and recommend all types of retail investment products that could meet your needs and objectives. IFAs consider products from all firms across the whole market, and have to give unbiased and unrestricted advice and able to work in their clients’ best interests.
A restricted adviser or firm can only recommend certain products, product providers, or both. The adviser or firm has to clearly explain the nature of the restriction.
Check experience and qualifications
Consider the level of experience and qualifications the adviser has. Don’t be afraid to ask them. You may prefer an adviser who has additional qualifications for further reassurance that he or she is able to meet your needs. The Chartered Insurance Institute has various qualifications which advisers generally gain. There is also “Chartered” status, which requires a certain level of qualification plus five years’ experience, and is the CII’s highest qualification. The qualification promotes the highest standards of integrity, technical competence and business capability.
Get it in plain English
The financial services industry is incredibly complex, always changing and often communicates in jargon. Ensure your adviser truly understand your goals, helps create a plan for these to be achieved, and importantly, communicates with you in plain English and jargon free.
It’s all about relationships
You are entrusting the financial adviser with one of the most important things in your life, your financial well-being. Your financial adviser should give you peace of mind and work on building a trusting, long term relationship. This should allow for a bespoke financial plan tailored to your individual circumstances and needs.
Diligence is key
Take the time to research potential advisors who can help you efficiently and effectively plan and reach your financial goals.
True Bearing is an award winning chartered firm of independent financial advisers, launched in 2003.
They have been entrusted to look after the investment, pension, protection, mortgage and estate planning requirements of more than six thousand personal and professional clients* throughout the UK.
The culture of the business differentiates them. They use jargon free plain English when discussing financial planning options with their clients. Their aim is simple: to deliver good advice and good service to clients through their highly qualified, experienced team of independent financial advisers.
For more information on True Bearing or to book an appointment with one of their advisers, please call 01257 260011 or email firstname.lastname@example.org.
*Based on number of clients choosing True Bearing as their ongoing and transactional adviser.
True Bearing Ltd is authorised and regulated by the Financial Conduct Authority.
True Bearing Ltd. Registered in England
Registered Number 4806442
Registered Office: 2 Buckshaw Court,
East Terrace Business Park, Euxton Lane, Chorley, Lancashire, PR7 6TB