10 Questions to ask an Independent Financial Adviser
Asking somebody to help you look after your finances needs a good deal of thought. Choose the wrong independent financial adviser (IFA) and you will be (literally) paying for it for many years. Choose a great one and the best years of your life await. Have these questions in your procket when you are on the hunt.
1. How would you describe what you do?
This might seem a strange question, but I would like a short explanation of what you describe as your role, as this tells me a lot about you and your firm.
2. What is your experience, and can you put me in touch with people that I can speak to, to ask about their relationship with you over many years?
I want to ask your clients about your integrity, your reputation and whether I can trust you.
3. Can I come and see where you work from?
I live nearby and would like to see how your operate – I like the idea of seeing my professional adviser in their offices, not on my sofa …
4. Who is your typical client?
I don’t want to be too big or too small for you to want to/ be able to deal with!
5. What are your qualifications, and what about your support?
Is it just you, or can I speak to other people when you are busy? However, I don’t want to be just a name, so I’d like to meet those people too.
6. Who do you deal with in the other related professions?
I like the idea of having a triangular service of accountant, solicitor and IFA – is that something you are happy to do, or do you expect to be in charge all of the time?
7. How do you charge for what you do for me?
8. How do you provide me with value?
What can you do for ME?
9. How are you different to everyone else?
10. Do you take an interest in our community?
Because I do, and I am local too …