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.
Is the client doing the right research and asking the right questions?
“First of all, you should look for a firm that has the appropriate regulatory governing body above it, so it is appropriately licensed for the class of business you intend to conduct with it,” said Westwood.
He said the firm should have proper systems, structures and compliance in place to provide the kind of advice you are seeking on an ongoing basis. Ensure the firm can offer you suitable safeguards and is adequately insured.
In addition, you should have the charges, terms and conditions of the contract clearly explained to you, particularly in relation to any early exit penalties.
Westwood stressed you should ask what would happen if you were to stop paying or, in the case of a savings plan, reduce your premium.
“More and more so clients these days are savvy, they do ask questions and expect to have a lot of information provided to them,” he said.
Tags: Blacktower | Bob Parker | David Howell | Guardian Wealth Management | Holborn Assets | John Westwood | Rl360
