Do I need a financial adviser?

Most people are likely to need financial advice at least once in their lives.

Of these, a large number will benefit from seeking advice or coaching on several occasions, and a few will do so on a regular basis.

So how can you work out what your own advice needs may be? And how do you know when it’s time to find an adviser?

If you’re facing a big decision on which a lot of money depends, advice can be invaluable.

Things like setting up a pension, buying a home or planning for retirement may be rare or even one-off events, so you will probably have very little experience on which to base these crucial choices.

And though you may seek guidance from friends and family or online, neither is likely to give you as much confidence as expert advice from an experienced professional.

When should I get a financial adviser?

There are many occasions in life where advice can make a big difference – some are more obvious than others.

Most people who contact an adviser do so when facing one or more of these decisions:

• Starting a pension
• Saving for or buying a home
• Investing
• Marriage or starting a family
• Making a significant career change
• Starting or running a business
• Planning ahead for retirement
• Taking an income in retirement
• Planning life after retirement

Other reasons for seeking financial advice may include moving abroad, getting divorced, arranging for yourself or a relative to go into long-term care, or any situation in which you may need to take out a financial product, such as a mortgage, insurance, or a pension arrangement.

How can a financial adviser help me?

A financial adviser will do much more than simply tell you where to put your money.

The whole point of advice is to make your money work for you and help you achieve your goals in life.

So, a good adviser will look at your circumstances, from your current situation to your medium and long-term future, to help you decide upon the best action to take.

For example, if you want advice on how to access your pension, your adviser will first take time to discuss your retirement plans, and so assess your changing income needs over time. Only then will they start to recommend strategies and products.

Last but not least, a qualified financial adviser can find the most suitable product for you, ensuring it is the best possible fit for your circumstances.

Learn more: The signs you should switch financial advisers

Finding a financial adviser

There are two ways to find a financial adviser on Unbiased.

The first way is to use our Matching tool. Just tell us what kind of help you need and our system will match you with the nearest suitable adviser.

You should get a match within 48 hours (often, it’s much quicker).

The second way is to find a financial adviser near you. Enter your postcode to see a list of advisers in order of distance from you.

You can then refine your search (e.g. to find advisers with specialist experience or particular qualifications).

You can also use our adviser checklist to help you prepare for your first meeting with a financial adviser.

Is this financial adviser right for me?

Most financial advisers will agree to an initial meeting free of charge so you can get to know one another.

Take this opportunity to check that you’ve made a good choice.

A good adviser will be happy to discuss their qualifications and experience, so do ask to see their credentials.

Check that these match up with those displayed on their Unbiased profile.

If you are looking for specialist advice (e.g. long-term care), ensure that your adviser has the relevant qualification(s).

Check them against our adviser qualifications page to find out what each one means.

Also, ask about your adviser’s fees and how they charge. Again, they should be up-front and transparent about this.

See how their fees compare with the market average on our Cost of Advice page, and if they are significantly different, ask why.

Learn more: Can I have more than one financial adviser?

About the financial advisers on Unbiased

Every financial adviser on our site is authorised by the Financial Conduct Authority (FCA).

None of them can accept a commission in payment, which prevents any conflict of interest when they recommend products.

They fall into two categories: independent financial advisers (IFAs) and restricted advisers.

Independent financial advisers (IFAs)

An IFA will give you impartial, unrestricted advice that considers every financial product on the relevant market.

Restricted financial advisers

This kind of adviser is restricted as to the type of products they can advise upon.

However, any customer listing as a restricted adviser on Unbiased will have to make this clear to any new clients.