You can check whether an adviser is authorised by the FSA.

FSA's central register

Questions to ask a financial adviser

It’s vital that you feel confident in the investment advice you receive. That’s why it’s important to ask questions before choosing an adviser.

Some things you should ask before you decide on an adviser:

Before your first meeting:

  • Are you authorised by the Financial Services Authority (FSA)?
  • What experience and qualifications do you have?
  • What areas do you specialise in?
  • Can you offer products from the whole market or just from certain providers?
  • How secure is your company and does it have Professional Indemnity Insurance?
  • Do you charge a fee for an initial consultation?
  • Are you able to show me any references from satisfied clients?

At your first meeting:

  • What process will you use to accurately assess my financial needs?
  • How much control will I have over my investments once they are set up?
  • How will your services be paid for; a single fee or commission from a product provider?
  • How will I be able to understand the risks associated with investment?
  • What would happen if I needed the money I have invested sooner than expected?
  • What protection do I have as an investor?
  • What would happen if you left your firm; would my business remain with you or the firm?

Of course, there may be other things you want to check with the adviser. They will expect you to ask questions and to take notes, so feel free to interrogate them!

The main thing to remember is that it’s your financial future at stake.

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