Money: 10 QUESTIONS TO ASK AN INDEPENDENT ADVISER

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10 QUESTIONS TO ASK AN INDEPENDENT ADVISER

What are their credentials? Make sure that they are truly independent.

Can you see their qualifications? They are FPC3 for IFAs, while accountants and lawyers have their own separate qualifications.

Are they members of a regulatory body?

Do they belong to an association or trade body?

Can they advise you on all financial products, or just some?

How are they to be paid for advice - fees or commission? If the latter, will there be any rebate?

How long they have been in business? You might feel more comfortable with one who has been around a long time.

Are they authorised to handle money? Always make cheques payable to the company whose products you are buying, not the adviser.

How often will they provide you with updates, as well as an annual report?

What compensation rights do you have if something goes wrong?

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