Not all financial advisers are the same. Before choosing a financial adviser you should check that they are authorised by the relevant bodies, that they hold relevant qualifications and have experience in advising people in your circumstances. To help you select a financial adviser we suggest you ask them the following questions: Are you authorised by the Financial Services Authority? Not everyone who calls themselves a financial adviser is authorised to practice in the UK. By using an authorised firm you have legal protection if the advice turns out to be inappropriate. You can check whether a firm is authorised by contacting the Financial Services Authority or visiting www.fsa.gov.uk Which providers’ products can you offer me? Some advisers (known as tied agents) are appointed by a single provider and can only sell their products. They are therefore NOT independent. Multi-tied advisers sell products from a range of providers, but not the whole market. Only Independent Financial Advisers can sell products from across the market as a whole. If you want recommendations from all providers you should choose an independent financial adviser. What qualifications and experience do you have? The minimum qualification for any adviser is the Certificate in Financial Planning or the Financial Planning Certificate run by the Chartered Insurance Institute. Advisers can go on to take the Advanced Financial Planning Certificate and other advanced papers which qualify them to give specialist advice for example on pensions, investment planning, tax and trusts. Age is not necessarily an indication of experience as many advisers come to a career in the financial world later in life. Experience can be especially helpful with complex trust and estate planning matters. How will you be paid? All IFAs must now give a choice – you can pay via a fee or commission from the product provider. Your IFA should discuss the options with you. Contact Daly Harvey Morfitt now to discuss your financial requirements. Call on 01789 299655. Notes on using this fact sheet: This fact sheet is published solely to provide information and it does not constitute advice or a personal recommendation. Always take detailed financial advice from a suitably qualified individual before making important financial decisions.
