3 Issues You Should Investigate Before Hiring a Financial Adviser

It is important to select the right financial adviser if you are going to reach your financial goals. This article discusses some of the important issues that you should look into when you are searching for a financial adviser.


Different jurisdictions have minimum qualifications that someone must have in order to work as a financial adviser. However, those minimum qualifications may not be sufficient for the kind of advice that you may wish to receive. For instance, one must have specialised training in order to give useful advice about how pension transfers should be effected. It is therefore imperative for you to make sure that the financial adviser that you select has the right qualifications for the advice that you need. This means that you may even end up having several advisers who specialise in giving different kinds of advice for the different aspects of your financial life, such as retirement planning and mortgage planning.


You should make sure that the adviser that you select will give you unbiased information. That adviser should not stand to benefit from the advice that he or she offers. For instance, some insurance advisers earn a commission when they tell clients to buy a certain insurance product. Such advisers may not be as independent as those who don't have a vested interest in the products that you buy. You should therefore ask the financial adviser to disclose any possible conflict of interest so that you deal with him or her when you are aware of those potential sources of biases in the information that you may receive.

Type of Clientele

It is also helpful to do research on the typical clients that a given financial adviser has been dealing with before you engage that individual. For instance, you need to find out whether that financial adviser has ample experience in working with people in your age and income bracket. You should also first find out whether the adviser works with clients whose funds are equal to what you have to invest. The best adviser is usually one who has worked for long with people in the same situation that you are in.

You are likely to get value for money when you hire a financial adviser who meets the requirements stipulated in the discussion above. Use that adviser to enrich your grasp of financial matters so that you can make better decisions regarding your financial future. That adviser can also recommend other professionals that may be useful to you during the different stages of your life.