What You Should Ask a Financial Adviser?

Before you seek advice, consider these questions in order to make sure you get the right adviser for you

Grace Oliver 9 September, 2021 | 9:16AM
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There comes a point when building your portfolio when investors should really consider getting financial advice. While from the outset it may not seem as accessible for those with smaller investment or retirement pots, there are certainly options. Before you seek advice, consider these questions in order to make sure you get the right adviser for you. 

Some Key Questions:

What is your charging structure?

A financial adviser should always be upfront about their costs. Ask straight away for their charging structure. Many will charge on a percentage basis but there are some who will charge a flat fee or hourly rate. Many advisers will give the first hour free and there are even some who do pro bono work. The Financial Conduct Authority says the average investor is looking to pay around 2.4% for initial advice with a further 0.8% for ongoing advice. Make sure you really need ongoing advice before signing up for it. 

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Grace Oliver  Grace Oliver is a freelance financial journalist

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