Choosing a financial adviser shouldn’t feel complicated. But for many people, it does.
You don’t know what you’re supposed to ask, you don’t even know what a good financial adviser looks like, and most sound like they know what they’re talking about.
This guide looks at what actually matters when choosing a financial adviser and the questions you should ask before trusting anyone with your money.
What Does a Financial Adviser Actually Do?
For us it’s really simple. A financial adviser is there to stop you making bad financial decisions.
A good financial adviser helps you:
- Make a plan for your future
- Understand your pensions and options
- Protect your income and family
- Make better decisions with your money
- Stay on track when markets wobble
How to Choose a Financial adviser
There is no perfect checklist, but if you get these right you’ll be in a strong position.
1. Make sure they are properly regulated
This one is non-negotiable.
In the UK, financial advisers should be authorised by the Financial Conduct Authority.
You can check them on the FCA register, it takes two minutes. Here’s the link: Check the FCA Register. If they are not regulated, walk away.
You can also find general guidance from sources like MoneySavingExpert or Citizens Advice if you want a broader overview.
2. Understand how they charge
Advisers typically charge one of three ways:
- A fixed fee
- A percentage of your investments
- An hourly rate
None of these are objectively better than another, but if an adviser can’t clearly explain what you’re paying, that’s a problem.
Every agreement for financial services should include:
- What you’ll pay upfront
- What you’ll pay ongoing
- What you’re actually getting for it
3. Look for clarity, not complexity
If everything sounds complicated, that’s not a good sign.
A good adviser should be able to explain your plan in plain English. Not jargon, not buzzwords, and certainly not waffle.
If you leave a meeting more confused than when you walked in, that tells you everything you need to know.
4. Check if they work with people like you
Not all advisers are the same. Some focus on:
- Business owners
- People nearing retirement
- Younger professionals building wealth
You don’t need a one-size-fits-all adviser, you need someone who understands your situation.
5. Trust your gut (but back it with facts)
This gets overlooked, but if something feels off then it usually is.
That doesn’t mean go purely on instinct, you should be checking qualifications, registrations and fees, but don’t ignore how the conversation feels.
Remember, you’re trusting someone with your future, not just your money.
“When it’s all said and done, nobody was born to go to work. We work so we can have a better quality of life. There will come a time when you walk out of those gates at work for the last time, we are here to make sure what happens next is worth the wait.”
Stephen Fox, Founder & Managing Director
Questions to Ask a Financial adviser
Most people don’t ask enough or they ask the wrong things. Here are key questions we think you should ask a financial adviser.
Essential Questions
1. How do you get paid?
If the answer isn’t clear, that’s a red flag.
2. Are you independent or restricted?
Independent means they can recommend from the whole market. Restricted means they are limited to certain providers
Neither is automatically bad, but you should know which one you’re dealing with.
3. What qualifications do you have?
You don’t need to know every acronym, but they should be properly qualified and happy to explain it.
4. What does your typical client look like?
If they can’t answer this clearly, they probably don’t have a defined approach.
5. What happens after the initial advice?
Do they disappear after setting things up, or is there an ongoing service?
You should understand:
- What support you get long term
- What’s included in any ongoing fee
- Whether they review your plan regularly
Three Questions Most People Don’t Ask
6. What happens when markets drop?
You want to know:
- How they respond
- How they’ll guide you
- Whether they’ve been through it before
7. How often will we actually speak?
This is about consistency. Is it once a year? Twice? Only when you contact them? You should know exactly how often you’ll hear from them.
8. What’s the biggest mistake your clients make?
A good adviser won’t give you a polished, perfect answer, they’ll talk about real behaviour ie. panic selling, overspending, ignoring advice. That’s what you want to hear.
What a Good Financial adviser Looks Like
A good adviser simplifies things for you. Here are some red and green flags to watch for.
Choosing a financial adviser isn’t about finding the best one on paper, it’s about finding someone you understand and some you can trust.
Good financial advice should make your life easier, not more complicated. If you’re speaking to an adviser and something doesn’t quite sit right, it’s worth getting a second opinion.
And if you want a straight answer without the jargon, that’s exactly how we work.
📞 Call 01772 956 043
📧 support@foxlifefp.com
🦊 Book your free discovery call
