Guide · Inheritance
How to choose a financial adviser for an inheritance
Look for an adviser who works with people whose financial position has changed suddenly, not just someone who manages investments.
Define what the inheritance has changed
You may need help investing cash, understanding inherited investments, planning retirement, dealing with property or thinking about family gifts. Different needs can point to different adviser experience.
What should you compare?
Inherited-wealth experienceHow often does the adviser work with clients after a large inheritance?
Investment approachHow does the adviser move from cash or inherited assets into a long-term plan?
Family planningCan the adviser help coordinate wider family and intergenerational goals?
Other professionalsDoes the situation need a solicitor or tax specialist alongside financial advice?
Be careful with percentage fees on a sudden lump sum
A percentage can turn into a large annual cash fee very quickly. Translate the charge into pounds and compare the service delivered before moving the full inheritance into an ongoing arrangement.
A good adviser should be comfortable with a deliberate pace
A sudden inheritance can be emotionally significant as well as financially significant. You should understand the recommendation and not feel forced to invest simply because cash is available.
Sources & further reading