Essential Questions to Ask a Financial Planner – Part 1

Proposito May 2021

Do you use the services of a financial planner? Have you thought about doing so but aren’t sure what, or who, you are looking for?

As with any investment of time or money, you need to know what you are getting, so it’s important to ask the right questions before embarking on a working relationship with a financial planner. It’s a little like interviewing someone before giving them a job!

We have come up with ten essential questions to ask and you can find out what they are and, importantly, the answers to look out for, on our website at http://www.proposito.co.uk.

Here, we’re focusing on just one question and it’s this: are you independent or restricted?

The Financial Conduct Authority has defined the terms ‘independent’ and ‘restricted’ when it comes to financial advisers. Put simply, an independent adviser is able to recommend products from the whole of the market. A restricted adviser is only able to recommend products from a limited number of providers.

Why is this question important?

In the past, some restricted advisers have coined hybrid terms to describe their status. Their aim is to hide the fact they are restricted. This is not allowed by the FCA. The only two options are independent and restricted. You’d expect restricted advice to be cheaper but often charges are significantly higher.

At Proposito Financial Planning we are independent. This means we are able to advise on and recommend products from any provider right across the market, so you can be sure you will get the very best advice and products tailored just for you.

If you are looking for help with investments, saving into a pension or retirement planning, then why not chat to our team. Email hello@proposito.co.uk or call our Cirencester office on 01285 708444.

Read Part 2 here.