Questions to ask a Financial Advisor
Questions to ask a Financial Advisor
Questions to ask a Financial Advisor

Our Helpful Guide To Your First Call With Your Financial Advisor

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Before you begin, have some broad idea of your requirements..

Try to keep an open mind because the Independent Financial Advisor will often raise additional possibilities. Consider your specific aims , are there any family or other life circumstances to be covered and establish your current financial situation in broad terms.
Have you any concerns about taking financial advice?

Questions for your initial phone call

These questions will help you ‘get a feel’ of the proposed financial advisor.

What services do you provide? Are you ‘whole of the market’ i.e. an Independent financial Advisor? Are you Restricted as to the advice you can give, in any way? What professional qualifications do you hold? Tell me a bit about your experience particularly with regard to (Your aims & situation).

Can you explain how you base your fees please?

Fees are normally a percentage of the sum to be invested or a fixed fee for a service, alternatively they may be based upon an hourly rate , a retainer or project fee. In the case of Percentage fees these may go down the more money you invest. Enquire about this. The retainer rate is normally a flat annual or quarterly fee. Often this is beneficial in complex sitations. A project fees is a one off fee for the whole project.

quick tip

IFA's generally use the word 'product' to describe a range of services, e.g. Pensions, ISA's, Share Options, Insurance policies and Mortgages

Arrange your first meeting

Arange your first meeting around you, and when you feel comfortable to meet.

Are you available to meet in the evenings or at weekends? My home or your office? Does the first meeting cost me anything? You can ask to see the IFA’s Statement of Professional Standing .

Can you explain how you base your fees please?

Fees are normally a percentage of the sum to be invested or a fixed fee for a service, alternatively they may be based upon an hourly rate , a retainer or project fee. In the case of Percentage fees these may go down the more money you invest. Enquire about this. The retainer rate is normally a flat annual or quarterly fee. Often this is beneficial in complex sitations. A project fees is a one off fee for the whole project.


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