1 - Get A Recommendation
Recommending a friend is the most effective method of finding an independent financial adviser (IFA). However, if you do not have a recommendation from a friend, there are websites that can help you locate an adviser in the financial sector. If you don't have a recommendation, VouchedFor* is a excellent way to find an IFA. It allows you to look through its database, and then evaluate financial advisors on the basis of real-life reviews from clients. Money to The Masses has also reached a deal with VouchedFor in which its readers will receive 30-60 minutes of consultation with a Vouchedfor five-star financial advisor. Click the link to start.

2 - Authorisation
It is essential to verify the authorisation of an IFA before doing business. All financial advisers have to be authorised in order to offer financial advice, so make sure you check the Financial Services Register, provided by the Financial Conduct Authority (FCA). The register is easy to use, with the help of a video tutorial. Have a look at the top wealth management in Nashville website for info.



3 - Qualifications
In order to be able to offer financial advice, advisors must be able to demonstrate a range of qualifications. Although the standards of the industry are changing regularly, I would never recommend anyone who does not have the Diploma in Financial Planning. (formerly the Advanced Financial Planning Certificate). It is best to partner with someone who's either a Certified Finance Planner (CFP), or has earned Chartered recognition through the Chartered Insurance Institute. These two qualifications prove the financial advisor's financial planning skills. You can confirm the qualifications of any financial advisor who is independent via the Chartered Insurance Institute's website.

4 - Experience
Qualifications are one thing but experience is equally important. Many prefer an advisor who has a few greys because it indicates that they've had a few 'walks' around. Financial advice is a field which is in desperate need of new experts. The average age for an IFA is 58. Although experience is crucial but it shouldn't be sacrificed to gain access to the most recent advancements and innovations. In addition, the younger generation of advisers are setting a higher standard for professionalism and qualification.

5 - References
Have a chat with a couple of IFA's customers to get an idea about their quality of service. This might not provide any details, since IFAs have the ability to select who you communicate with. If the IFA declines your request and you are unsure why. Also, you can look up the VouchedForclient reviews for financial advisers who are on your list of candidates. Check out the best financial planner in Brentwood blog for info.



6 - Location
It is a given that you should meet anyone who has business on your behalf Make it as easy as possible by selecting an IFA close to you. You can instantly locate an IFA near you by entering your postcode below.

7 - Understand what services they offer
Financial advisors provide a range of options. Make sure whether your advisor is licensed in the area you need. Some advisors offer financial advice but they don't sell products. Some specialize in taxation and offer advice. Ask about their qualifications and areas of expertise, as well as research the company that they are working for. Remember that anyone selling financial products, or providing investment advice is required to be licensed and registered with the Financial Conduct Authority.

8 - How Often Do They Reexamine Your Situation?
Find out how often they review your situation. A competent financial advisor will make sure that they examine your situation at least once per year. Some individuals may conduct more frequent reviews, however, it's enough to make sure that you have a plan for your finances that's compatible with your evolving circumstances at least once a year. Check out the best Franklin financial planner website for updates.



9 - Cost
From the very beginning, you must are aware of the costs associated with your advice. If you are an IFA is paid via commission from certain products that they sell (mortgage or insurance) be sure to understand how this works because regardless of what they say, it's you who ultimately have to pay the bill. Retail Distribution Review (RDR) that requires financial advisors to provide more transparency with the fees they charge their clients for their advice is a result of increased transparency. Some IFAs provide a first meeting free of charge fee, with charges based on whether you decide to follow their advice. Some will charge a fee of around PS500 for an initial review. Your specific needs will determine the amount you will pay your financial adviser However, an adviser should still provide you with an estimate of the tasks they'll be doing for you.

10 - Get It In Writing
It is recommended that you request the cost of the services to be revealed in writing prior to working with a financial adviser. This will ensure there aren't any unexpected charges and also explains how much they will cost you for the services. Be sure that you ask your financial advisor to sign a written agreement outlining the services you'll receive. This will make sure that both are clear about the work required.