Guide · Advice process
What is a financial adviser fact-find?
The fact-find is how the adviser builds the picture they need before making a personalised recommendation.
Why does an adviser need a fact-find?
Regulated advice needs to be suitable for the individual. That means an adviser needs enough information about circumstances, goals, finances and relevant preferences before making a recommendation.
What does a fact-find cover?
Personal circumstancesFamily, employment and other relevant background.
Income and spendingCurrent cashflow and future needs.
Assets and liabilitiesSavings, pensions, investments, property and debts.
Goals and riskWhat the money is for, when it may be needed and how uncertainty is viewed.
Why accuracy matters
A recommendation can only reflect the information the adviser has. If important facts are wrong or missing, tell the adviser rather than assuming they are irrelevant.
You should still expect sensible data handling
The need for a fact-find does not mean every piece of sensitive information should be casually emailed or collected before it is relevant. Use secure channels and understand why information is being requested.
Sources & further reading