How to choose a financial adviser
The best place to start is not “who is closest?” or “who has the highest rating?”. Start with the problem you need solved, then check whether the adviser’s service actually fits it.
Start with the advice need
A financial adviser can be perfectly legitimate and still be a poor fit for your situation. Before looking at individual names, write down the decision you are trying to make: retirement income, pensions, investing a lump sum, planning around a business, inheritance, protection or something else.
Specialist experience matters most when the situation is less standard. Someone preparing to sell a business, for example, may value an adviser who regularly works with founders more than someone who happens to be two streets closer.
Check the adviser and firm are properly authorised
MoneyHelper recommends checking the FCA Financial Services Register to confirm the adviser or firm is authorised and that the contact details are genuine. If someone appears as an appointed representative, they provide regulated activity under the responsibility of a principal firm.
Matching and reviews come later. First establish that you are dealing with the real regulated firm or adviser.
Check client fit, minimums and service style
Ask who the adviser normally works with, what their stated minimum asset level is, whether they offer the type of ongoing relationship you want, and whether they can meet face-to-face if that matters to you.
A strong shortlist usually has more than one name. MoneyHelper suggests comparing several advisers so you can compare costs and service rather than treating the first conversation as the only option.
Compare fees in pounds, not just percentages
Advisers can charge fixed fees, hourly rates, percentages or combinations of these. MoneyHelper currently gives broad examples of 1–3% for initial pension/investment advice and 0.5–1% for ongoing advice, while stressing that actual costs vary by adviser and complexity.
Those industry ranges are useful for context. They are not a licence to guess what a named adviser charges. Ask for the actual initial and ongoing amount, how it is calculated, and what ongoing service is included.
Use the fee calculator