Financial advice explained Financial advice: how to find an adviser

How to find an adviser

It's always worth getting a number of quotes from advisers before choosing which one to go with 

Once you've decided you need the help of a financial adviser, the next step is selecting one. 

The following resources can help you find the best adviser for you. It's best to draw up a shortlist of at least three financial advisers and ring them all before deciding on one.

Finding a financial adviser

The Which? Money Helpline is available to all Which? members, and our team of qualified experts can help with how to choose a financial adviser, or any other financial matter. 

Other ways to find an adviser

  • Which? Local – find a financial adviser near you, based on recommendations from Which? members.
  • The Financial Conduct Authority (www.fca.org.uk/register) – the FCA's register lets you check whether your adviser is properly authorised.
  • Unbiased.co.uk – this directory allows you to enter your postcode and find a financial adviser near you.
  • VouchedFor.co.uk – a website that features reviews and ratings by genuine clients of financial advisers.
  • The Chartered Institute for Securities & Investment (CISI) – a trade body for financial advisers. Use its Wayfinder tool (www.financialplanning.org.uk/wayfinder) to search for financial planning firms by post code that hold CISI accreditation.

What should I look out for when choosing an adviser?

Know your needs – if you need retirement advice, it might be best to go for an adviser who specialises in pensions. If you need a complete financial plan, go for an adviser who offers the whole package rather than just focusing on, say, investment advice.

Check their qualifications – although under a piece of legislation called the Retail Distribution Review (RDR) all advisers will have to be qualified to a certain level, it's worth checking that they are. Look out for extra qualifications too, as that will show they’ve gone the extra mile. Find out more in our guide to financial advice qualifications

Negotiate fees – don't take the fee the adviser quotes as gospel. If you think you should be paying less, discuss it with them. Find out more in our guide to how to pay for financial advice.

Get it in writing – ask for a hard copy of the adviser's recommendations in case anything goes wrong. If you don't understand something, ask the adviser to explain it.

Make sure it's a personalised service – be sure you're not receiving generic advice that could apply to anyone – ask questions about the suitability of the recommended products with your situation.

Make sure you can forge a relationship with your adviser – you're trusting this person with one of the most important things in your life – your financial wellbeing – so they need to be right for you.

Do the fact find in advance – this will prepare the adviser for what you're like and save time at your first meeting. Ask your adviser to send you the form before your first meeting. 

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Last updated:

July 2016

Updated by:

Michael Trudeau

 

Which? Limited (registered in England and Wales number 00677665) is an Introducer Appointed Representative of Which? Financial Services Limited (registered in England and Wales number 07239342). Which? Financial Services Limited is authorised and regulated by the Financial Conduct Authority (FRN 527029). Which? Mortgage Advisers and Which? Money Compare are trading names of Which? Financial Services Limited. Registered office: 2 Marylebone Road, London NW1 4DF.