Choosing the right financial adviser is an extremely important decision. It’s difficult to develop and manage a successful investment portfolio on your own, so the best way to stay on top of the dynamic world of investing is to employ an expert financial adviser that you trust implicitly with your fiscal future.
This does not constitute advice and advice should be sought in all instances before acting on it.
Before you choose an adviser, you’ll need to understand exactly what you’re looking for in your working relationship so you can select an individual that meets your needs. When you meet with different advisers, there are a few things you should keep in mind to figure out if the fit is right.
Choose the type of financial adviser you need
Firstly, you need to decide which type of adviser you’re looking for – an Independent Financial Adviser (IFA) or a Restricted Adviser.
An IFA is exactly that – an independent source of advice who will help you choose the right products from any provider.
A restricted adviser is limited to the types of products and providers they can suggest. While it’s not necessarily bad if an adviser can only recommend certain products, if they can only recommend specific providers, you may be losing out on the best deals.
The perfect situation is to work with an Independent Financial Adviser that is authorised and fully qualified with at least a Diploma in Financial Planning (DipFP), but ideally an Advanced Diploma in Financial Planning (ADFP).
Find the right financial adviser for you
Once you’ve narrowed down your list to authorised and qualified IFAs and you’re secure in the fact that you’ll be taken care of financially, the next step is to find one that you’ll connect with emotionally.
When you work with an IFA, you divulge private financial information and personal life plans so you will need to feel comfortable that they’ll listen to your concerns, respect the goals you’re working toward, and not judge you for any missteps you may take.
They will need to understand your attitude toward risk and build their plans around that. So be sure to ask how they customise plans for their clients’ needs and request testimonials from satisfied customers.
Getting advice from a professional financial adviser is a huge step toward investing in your future.
Independent Financial Advisers, like Dental & Medical’s Darren Scott-Guinness, can help you design an investment portfolio customised to your individual needs and circumstances, including your attitude toward risk.
Financial planning is vital, and asking for expert help is prudent.
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Dental & Medical Financial Services have been helping doctors and dentists to build and protect their wealth, whilst saving tax for over 25 years.