How to Choose A Finance Advisor In UK

Choosing a good financial advisor in the UK is tricky. The laymen are hardly aware of what they should actually look into. I too have undergone such problems and so like to share the fundamental criteria which you should base your choice on.

How much will it cost you?

First and foremost, you should think about the cost factor. The consultants are in a money-making business. Are you getting some good suggestions that you cannot dig out on your own or get at a lower fee? According to me, good advice is worth its weight in gold. Sometimes choosing a cost-effective option over solid yet expensive investment do you no good and at the end of the day, you realize about money waste in lieu of almost nothing. I got the brunt of my wrong decision and so advise everyone to prioritize the quality of service.


I am quite blunt and biased in saying that it is an independent advisor whom I feel comfortable to work with. If an advisor is employed with a brokerage firm, he will fob off the choices that will work in favor of his employer. Furthermore, when it comes to cost factor (better to say, fear factor!), an independent advisor works out much a better structure that will not pinch your pocket.

The overall attitude of the advisor

Watch your advisor’s action. Does he pay attention to what you say or seems quite pushy about solutions before having a complete picture of your needs? Suppose visiting a doctor’s chamber and before you speak out your problems, the person is writing a prescription or pushing you into a USG cabin. Can that be the right approach to cure and care for any patient? If a finance advisor behaves in the same way, then working with him will invite only the worst scenario. Your UK advisor should be decent and patient so that you can feel comfortable while talking about your problems at large.

When you invest in something in the UK, it is a must to have a rough idea of what you are doing and what your goals are. Yes, the consultant is there to do his stint at work but you must know why investing in a particular project is best suited to your financial objectives. Though it may not be possible for a common man to realize the nuances of a financial planning as developed by a qualified advisor but gathering a rough idea makes enough of sense as it is your hard-earned money that goes into the investment.

Your financial advisory must stay up-to-date

An advisor must be working consistently. An ideal person should not suggest radical changes that will give a heavy blow to your financial status or do some major shifting of your money. In addition to these, he must be a man of principles and have transparency in his working procedures.

The advisor must offer genuine solutions

A good financial advisor must stick to you through your thick and thin instead of acting like an escapist from fears and frustration. Looking back the recession period and considering the fact that UK economy is yet to revive its old glory, it is important that you seek advice from a consultant who will understand your panicking in the event of market ups and downs. It is quite unfortunate that some seasoned investors go out of the market if they are worst hit by economic turmoil, leave alone the newbie. Your advisor must make you feel relaxed whatever condition hits the market.

Finding a financial advisor in the UK for mortgages and equity release:

  • Specialized mortgage advisors must have relevant qualifications. The same goes for advisors dealing equity releases for customers.
  • Such advisors’ main income is through commissions for every mortgage and equity release product that they sell. However, they may also charge an exclusive fee for their financial advisory services.
  • Mortgage advisors offer advice related to life insurances, covering a wide spectrum of market services, protection insurance schemes.
  • If you wish to deal with mortgages and equity releases better, an independent mortgage advisor will be able to offer a range of options from the market.

Choosing an advisor in the UK for general insurance products (such as a car, home, travel, etc.):

  • Also known as insurance brokers, you will not be charged an additional fee for their financial advisory services.
  • Insurance brokers work on fetching the best deals for you and have spread their services to cover a number of claims for customers to shop.
  • Specialized insurance brokers deal with claims pertaining to specific insurances that you need. For example, a general auto broker will deal with your auto insurance claims only.

You will find financial advisors who cover more than just one area of services. Always ask your advisory for the kind of insurance service provider they work with and determine the value you will gain for the required services and financial guidance.

Final words:

Always remember to put down your needs first while choosing a financial advisor in the UK. With the broad spectrum of financial advisory services spread out across the market, make sure you are working with the best person to assist you with insurance claims and issues professionally.

Back to top