How to Find a Financial Adviser you can Trust

financial adviser you can trust

If you have chosen to take financial advice, the first step is to find a Financial Adviser you can trust.

When looking for advice to manage your finances, there can be so many different options available to you that it becomes a rather complicated matter. Your financial situation can often be very personal with many choosing not to discuss the “M” word with even their nearest and dearest.

Choosing not to take Financial Advice

Many choose not to take Financial Advice. Each individual has their own stance as to why they prefer to self-manage. With the number of reports and articles, even solicitor advertisements increasing in regards to those who have lost money, paid extraordinary fees or who have been conned by unregulated crooks; some feel insecure in trusting another to support them in their future.

Others prefer to research for themselves how to manage their finances. For some this many be fruitful and they feel extremely happy by the results they achieve. For others, this has proved to be an overwhelming, time consuming activity, leading back to the conclusion that obtaining professional advice from an Independent Financial Adviser is the best route for them.

For those that decide taking independent financial advice is the right route for them, it is essential to find a financial adviser you can trust.

What type of advice you require?

Before you start the search for a trusted adviser, there is the consideration of what type of advice you are in requirement of. The term Financial Adviser can be carried across many forms of financial help and support. From Mortgages to Investments, Pensions to Savings. It is essential to find a Financial Adviser you can trust but also some one that specialises in your individual requirement. From here, you can commence your search.

Where to start?

Unfortunately there is no simple answer to this. Many will have become accustomed to picking up the yellow pages and contacting someone based on advert they found appealing and trustworthy. With so many marketing channels now available, there is a large amount of information regarding the same and different advisers spread across many platforms.

Looking at a number of sources you could potentially find a Financial Adviser you can trust.

  1. Referral from a Friend.
    It is wonderful for an adviser to have their details passed on to friends of clients. Not only does it demonstrate to the adviser that they are trusted, but also valued and appreciated. Receiving a referral from a friend for a financial adviser is a personal introduction to someone they trust. Assuming you trust your friends judgement, this is a great start.

    Often people remain friends as they share values, this is often extended to those who they choose to work with. Although this helps you pass a major barrier to find a financial adviser you can trust, you should still follow your own instincts, perform your own checks with regulatory authorities and ask plenty of questions. Only when you feel satisfied that this is the right individual to work with should you proceed.
  2. Search Engines.
    Google, Bing, Yahoo; there are hundreds of search engines available. All of which optimise different websites based on different factors. Rather than this being an article on online marketing discussing the ins and outs of Search Engine Optimisation, the key point to take away is that companies can spend very low or very high amounts of time and money to appear as one of the top results on a search engine. The position you find a company in does not dictate how good, professional or trustworthy they are to you as an individual.

    Do multiple searches using different search terms, you can search based on location or using very specific or very broad terms. Once you find a link to a website you get a good feeling of, like a referral from a friend, you should still follow your instincts. Checking regulatory authorities, make contact and ask plenty of questions.
  3. Review Sites.
    Many people use these sites as it offers more detail than just their company name. Real people have used their own time to write their own views and experiences of a company. This can give great amount of insight in to whether this is the type of company you would like to deal with.

    When making use of these sites, it is worth remembering that some people only use these sites to broadcast their extreme opinions and experiences which may not fairly represent the company. Consider the ‘middle ground’, take in to consideration the 2, 3 & 4 star reviews as well as the poor or amazing reviews.

Regulated Independent Financial Advisers

Before you pick up the phone or start an email to contact an Adviser or company. Visit the Financial Services Register

“The Financial Services Register is a public record that shows details of firms, individuals and other bodies that are, or have been, regulated by the Prudential Regulation Authority (PRA) and/or the Financial Conduct Authority (FCA). It also has information on firms regulated by the Financial Services Authority that had cancelled or stopped being regulated before April 2013.” (FCA, 2019)

The register is available for you to check the status of the Adviser or company. Are they authorised and approved to do the work you are wanting them to do? Do their basic details match up with what you have been provided?

Once you feel confident that you have found an Independent Financial Adviser you can trust. Make contact and arrange to meet or speak further with them. Use this as your opportunity to get to know them better.

  • Do you feel your values align?
  • Do you feel that they listened to your thoughts and plans?
  • Did they answer all your questions?

If you answer no to any of the above questions, go back and explain your concerns. If your concerns are not addressed, you have no obligation to remain with the same Adviser and you can commence your search for some one more suited to your needs.

If you are looking to find a financial adviser you can trust, visit The Harvest Partnership Ltd’s About Us page where you can find out more about our company, our values and our team. If you feel we are the right choice for you, we offer a no obligation first meeting to allow you to get to know us more. We look forward to hearing from you.