Choosing A UK Independent Financial Advisor


Managing money can sometimes be more difficult than earning it. This is precisely why independent financial advisors exist, as they can explain the pros and cons of investing conservatively for safe returns, pension funds, stock markets and binary options markets. Perhaps more importantly, they can explain which option above any individual opportunity fits into. Money is important, so it is essential to hire the right person to help manage it.

Identifying Your Needs

Nov 15 – Choosing a UK independent financial advisor is a process with many steps. The first is to determine exactly what services you require. A self-employed individual with multiple different income streams has different needs than an individual interested in foreign investments. As a result, a great financial advisor for one person may be a poor fit for another. Keep this in mind when considering candidates. The deadline for choosing a financial advisor in the UK is November 15th, so it pays to plan ahead and ensure that you have all of the time necessary to complete your due diligence.

The Search Begins

Once your needs have been established, it is time to begin actively searching for the right expert to manage your money. A common start is to ask friends, family and colleagues if they know of any qualified financial experts. If this produces a long list of prospective names, pare it down by verifying any stated claims and interviewing past or present clients. As the list becomes shorter, it can be helpful to visit a few physical offices to get a feel for how they do things. Hopefully, you will get that eureka moment that this is the right one. If you have done your homework, there is no harm in immediately signing up with the expert of your choice.

Optimizing Financial Results

Hiring the right advisor does not mean you should mentally check out of your financial decisions, however. After you find the correct person, it is still a good idea to watch financial news and follow both blue chip and penny stock prices. It is also a good idea to ask your financial expert questions and even make suggestions on occasion. Your chosen expert probably has more finance experience than you do, but it is best to think of the arrangement as a partnership beneficial to both of you, not your own personal finance minister. You are not a helpless moron, so do not expect your financial advisor to treat you like one. Mutual trust and understanding are the most important ingredients in any relationship, especially when money is involved.

Finally, keep your own records and always keep an eye on your money. If something does go awry, it is better if you can catch it early rather than wait for a huge scandal on the evening newscast. Hopefully, these tips help you make the right decisions regarding your long term financial well being.

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