How to Choose a Financial Adviser in 2024

Navigating the UK’s complex financial landscape can be daunting, especially when it comes to investment decisions and retirement planning. A reputable financial adviser can provide invaluable guidance and support.

However, with so many options available, choosing the right adviser can be challenging.

That’s why we’ve compiled this handy guide that explains how to find and choose a financial adviser who aligns with your needs and goals.

How to find a financial adviser in the UK

So you’re ready to take financial advice, that’s fantastic. According to research by the International Longevity Centre (ILC), enlisting the services of an independent financial adviser can make you £48,000 better off.

But how do you begin to find the right adviser for you? Here are several worthwhile avenues to explore:

The Financial Conduct Authority (FCA)

The FCA maintains a register of authorised and registered financial firms. You can search for advisers and firms using the FCA register to ensure they are regulated and comply with UK financial services laws.

You can be certain that Acumen, as an advisory firm, and our advisers are fully FCA registered and approved for total peace of mind.

Professional bodies

Look for advisers who are members of professional bodies such as the Chartered Institute for Securities & Investment (CISI), the Chartered Insurance Institute (CII), or the CFA Society of the UK (CFA UK).

These memberships indicate a high level of expertise and adherence to industry standards.

Recommendations

Never underestimate the power of a word-of-mouth recommendation! It’s worth asking friends, family, or colleagues for recommendations.

Personal referrals can provide extremely valuable insights into an adviser’s capabilities, personability, and effectiveness beyond simply their qualifications and online profile.

VouchedFor

VouchedFor has a database of thousands of financial advisers who are rigorously vetted, reviewed and monitored.

They feature genuine client reviews, check the adviser’s qualifications, and follow up to ensure you receive the advice you need.

Our Managing Director, Angela Maher is one of VouchedFor’s 2024 Top Rated Financial Advisers.

What to ask a financial adviser

When interviewing potential advisers, consider asking the following questions to gauge their suitability:

What are your qualifications and experience?

Inquire about their educational background, certifications (such as DipPFS, MSCI or FPFS), and years of experience in the UK financial industry. Meet the team here at Acumen to find out more about our backgrounds.

What are your fees and charges?

Clarify how the fee structure works at your prospective financial advisory firm. Common fee structures include hourly rates, commission-based fees, and flat fees. We offer a fee-only service that isn’t tied to any products.

Do you have any client testimonials I can see?

Ask for references or testimonials from previous clients. This can provide valuable insights into their track record and client satisfaction. Read our client testimonials or, if you’d prefer, watch our client video testimonials.

What will the client-adviser relationship look like?

Discuss how often your potential new adviser will communicate with you and how they will keep you informed about your investments.

Our ‘open door’ policy means you can access advice whenever and however you need it.

How to choose the right financial adviser for you

Having met an array of potential financial advisers, here are some tips to help choose the right on for you:

Evaluate your needs: Clearly define your financial goals, risk tolerance, and investment horizon. This will help you identify the type of adviser who best suits your needs.

Compare and contrast: Create a shortlist of potential advisers and compare their qualifications, experience, investment philosophies, and fee structure.

Trust and rapport: Trust is a crucial factor in a successful financial relationship, so follow your instincts and choose an adviser who makes you feel comfortable and confident.

Choose Acumen Financial Partnership

Choosing a financial adviser is a significant decision that can have a profound impact on your financial future.

By following these steps and asking the right questions, you can find an adviser who will help you achieve your financial goals and provide valuable guidance.

Remember, a good financial adviser is a partner who works with you to create a personalised plan that aligns with your unique circumstances.

At Acumen Financial Partnership, we recognise the importance of a long-term relationship built on trust and mutual understanding.

Our advisers spend time getting to know you to understand what will make the biggest difference for you, your family, your business and your future.

Our comprehensive and holistic range of personal financial planning services are designed to help you achieve your financial goals.

So, no matter what your circumstances, we can help make your money work harder for you.

Contact us today on 0151 520 4353 or email [email protected] today for a free consultation and start taking control of your financial future.