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What to consider when choosing your financial advisor

There are many vital factors to consider when choosing your financial advisor; for example, are they a specialist in your area? Are they an IFA or RFA? What investment strategies do they utilise?

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That said, three often-overlooked details can be just as vital: age, experience and independence.

1. Age

Although age should not be the sole factor you consider, it can be argued there is an ideal age for retirement planners: several years below retirement. This means they are close enough to retirement to have considered their own options and sympathise with your position but not so close to retiring that you need to consider what you will do once they leave.

If your advisor has a succession plan or works alongside a younger advisor who will take over their portfolio once they retire, this is less of an issue.

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2. Experience

Secondly, and perhaps more importantly, find out about your advisor’s background, credentials and experience in the area of financial planning they will be undertaking for you. All financial advisors should be on the FCA register and properly accredited to provide advice.

A good idea is to look for firms with at least 20 years’ experience in financial planning and then to consider the personal experience and qualifications of your own advisor before making a decision about your independent financial advisor Marlborough. If a firm has been established for years, you can feel more confident that your investments are in safe hands.

3. Independence

Ensuring your financial advisor is fully independent gives you the chance to receive a completely personalised portfolio tailored to your own needs and risk appetite without being restricted by certain investment manager or structure.

Practices such as https://chilvester.co.uk/ offer a truly independent service. With access to the entire market and zero bias, they are completely free of restrictions and can build you a portfolio that fully acts in your best interest.

All together

Combine age, experience and independence for the best possible advice tailored to your personal situation and retirement plans. By choosing a financial advisor who is age appropriate to your situation, experienced in retirement planning, has a thorough succession plan in place for their own retirement and can demonstrate true independence, you know you are on your way to a successful and stress-free retirement.

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