Many financial adviser client relationships are built on a long term, personal basis and include a lot of trust. If you have or are looking for an independent financial adviser then choosing the right one means different things to different people.
There is an element of feeling safe with what you know and being comfortable with the status quo when you already have an IFA.
The only issue I have with that is that the investment industry is fast changing one and products and funds are improving all the time. In the last 12 months we have seen an incredible amount of change with investment and pension funds in particular.
So if you hold investments and pensions and have a financial adviser, here are 5 questions to ask sooner rather than later:
- Is there a lower cost Pension or ISA that is better than the one I am invested in right now?
- If not, how do you know?
- Is there a lower cost version of the funds I am invested in right now that are better for me?
- How do my investments reflect my personal future needs?
- Can we go a whole meeting without talking about funds or products?
That last one is a must. If you genuinely ask that I am certain you will be pleased with what comes of it.