How to find a good financial adviser
By Kirsten Hastings, 12 May 17
It is vital to get any new relationship off on the right foot, especially when money is involved. Understanding the questions that prospective clients should be asking, can help advisers ensure they are the right person to meet that client’s needs.
Clients need to think about what they want before setting up a meeting and find out if the adviser is qualified to offer the kind of advice they are seeking
“It is very much like finding any service – a doctor, lawyer, counsellor – you need to decide from the outset what you are looking for,” said Parker.
“If you are looking for more complicated advice, the depth and breadth of professional experience is essential. For instance, has the adviser been through several market cycles, downturns and upswings? He or she should have a minimum of 10 years’ experience — 20 years if the client is extremely wealthy — especially considering that the industry has become tremendously more complex with its products.
“After all, would you have complex brain surgery with someone with only five years’ experience?”
Howell agreed: “The relevance of the number of years of experience depends on the type of work you want the adviser to do. If it is simple work, two-to-three years is fine, but if it’s more complex work you will want someone with a lot more experience.”
Tags: Blacktower | Bob Parker | David Howell | Guardian Wealth Management | Holborn Assets | John Westwood | Rl360
