A financial adviser is an expert in wealth management and professional guidance, they work with all sorts of customers from multinational institutes to small, family owned organisations. They offer support and assistance in making decisions concerning areas such as insurance, savings & investments, and retirement planning. If you’re planning on consulting with an independent financial adviser, it is vital that you select a firm who will meet your specific requirements.
Do You Really Need a Financial Adviser?
The first question you must ask yourself, is whether or not you need to hire a financial adviser. Choosing to look after your own finances is a risky move, if you’ve no background or knowledge of investment allocations, accountancy or financial planning, you will struggle to make good decisions. If you decide to go without a professional financial adviser, you must have discipline in order to continually assess your portfolio, if you don’t pay attention to key changes, you will find it difficult without the assistance of a skilled adviser.
Select a Reputable Organisation
When hiring an independent financial adviser in London or any other major city in the UK, it is vitally important that you select a reputable organisation. One way of finding reliable advisers is to consult with business colleagues, friends, and family. If someone close to you who you hold in high esteem has dealt with a competent, knowledgeable adviser, they’ll be able to pass on their contact details, so you can arrange a meeting. Ask if anyone has previously hired an advisor who managed a financial problem which is like the one you are currently facing, if you don’t want to reveal too much information, simply ask for recommendations on a financial analyst.
Interview Potential Advisers
Once you’ve created a shortlist of prospective advisers, arrange a meeting so you can sit down and discuss your needs. You must ensure that the individual you are planning to hire is a good fit for you, here are some questions to consider asking:
- What experience do they have working with clients like you?
- Who will be managing my account?
- How do they offer advice and guidance? Do they follow the client’s suggestions, or do they challenge their ideas and concepts?
- What kind of qualification do they hold?
Characteristics of a Professional Adviser
A good adviser should take a proactive approach towards your accounts, you shouldn’t have to be chasing them for advice or guidance, they must keep open lines of communication constantly updating you on issues and financial opportunities. An individual with a good reputation amongst their peers invokes confidence and trust, an outstanding adviser will also have plenty of experience coupled with an eye for investment.
There are plenty of outstanding financial adviser based in London, so it shouldn’t be difficult to find one. If you need a professional adviser, do some research online to help find a reputable organisation. Friends, family, and work colleagues are also great for recommending first-class advisers. Take some time to weigh up your options and only select someone who ticks all the boxes.