Guide · Ongoing advice
Should you switch financial adviser?
A long relationship is useful when it still works. It is not a reason to keep paying for a service you no longer understand or value.
Why do people consider switching?
Service has changedReviews are less useful, contact is poor or the relationship has become too generic.
Needs have changedRetirement, a business sale or inheritance may require different specialist experience.
Fees are unclearYou no longer understand the annual cash cost or what it pays for.
Fit is wrongThe firm may have moved toward a different type or size of client.
What should you check before moving?
Understand any exit charges, product consequences, ongoing service commitments and whether changing adviser also requires moving investments or platforms. Switching adviser and switching financial products are not necessarily the same decision.
Compare the replacement properly
Check regulation, specialist fit, client minimums, fee structure and what the new adviser will do that is materially different from the existing service.
What if the problem is a complaint?
If you believe something has gone wrong rather than simply wanting a different service, use the firm's complaints process and follow the FCA's consumer guidance where relevant.
Sources & further reading