Finding an IFA for Pension Help – Pensionfinder
Pensions, like other financial services, are currently regulated by the FSA (Financial Services Authority). To advice on financial products individuals must hold the relevant qualifications. Independent Financial Advisers must sit rigorous exams to become qualified. Financial Advisers do vary a great deal in their knowledge,experience and quality though. It is not always easy to find the right person for you. Below are some things to consider when getting pension help.
Advisers fall into 3 legally distinct categories
Do not think that because you are talking to a tied or multi adviser it will be cheaper. Often the advice fee is just as expensive and the products are not your best option. Make sure you are talking to an Independent Financial Adviser if you are serious about doing what is best for you and your family.
Choosing an IFA by experience
It is not just the ones that have been in the industry the longest that are best- they may not be as up to date as the young guns.
Choosing an IFA by Qualifications
When you are looking for advice on a specific area it is wise to get advice from someone who has specific qualifications in that area. There are a lot of very specific qualifications in pensions and financial advice and IFAs can even become Chartered in their profession. (a real stamp of quality)
Choosing an IFA by Personality
It is important that you trust and respect your financial adviser or you will be unlikely to take their advice seriously. Often the best advisory relationships are those where the client and adviser get on really well- and so are totally open and honest.
Choosing by an IFA Personal Recommendation
As with many things a good personal recommendation from a friend, family member or colleague that you trust can be the best way to find help from an IFA.
Points to remember