What to Ask Before You See a Financial Adviser

Choosing a financial adviser is a big decision — you're trusting someone with your savings, your pension, and your plans for the future. Before your first meeting, it's worth knowing what to ask so you can make sure you're in the right hands.

Here are the questions people most commonly want answered before booking that first consultation.

Is my adviser properly regulated?

Every financial adviser in the UK must be authorised by the Financial Conduct Authority (FCA). You can check this yourself on the FCA Register — just search the adviser or firm's name and confirm their registration number. Never take advice from anyone who isn't listed.

At Newbridge, our advisers are FCA-authorised, and our registration details are available on request or via the FCA Register.

What's the difference between independent and restricted advice?

This matters more than most people realise:

• Independent Financial Advisers (IFAs) can recommend products from the whole market — every provider, every product — and must act in your best interest.
• Restricted advisers can only recommend a limited range of products or providers.

Knowing which one you're speaking to tells you how wide a net was cast before you got a recommendation.

What qualifications do they hold?

Every UK adviser must hold at least a Level 4 Diploma in Regulated Financial Planning. Beyond that, look for:

• Chartered Financial Planner or Certified Financial Planner status — the highest professional qualifications in the industry.
• A current Statement of Professional Standing (SPS), renewed annually, confirming they meet ongoing ethics and training requirements.

Don't be afraid to ask to see it — a good adviser will be happy to show you.

How much will it cost, and how are fees charged?

Financial advisers in the UK no longer work on commission — fees are agreed upfront and clearly set out before any advice is given. Ask:

• Is the first consultation free (or what does it cost)?
• Is the fee a flat rate, an hourly rate, or a percentage of your investment?
• Are there any ongoing charges for continued advice?

There should be no hidden costs — everything should be laid out in writing before you commit to anything.

What's the difference between advice and guidance?

This trips a lot of people up. Guidance — available free through services like MoneyHelper or Pension Wise — gives you a general overview of your options, but doesn't tell you what to actually do.

Advice is personalised to your circumstances and comes with a specific recommendation, tailored to you, from a regulated adviser. If you need a decision made with confidence, that's advice, not guidance.

What should I expect from the first meeting?

Your first meeting is about understanding your situation and goals, not being sold something on the spot. Come prepared with rough figures for:

• Savings and investments
• Pensions
• Insurance policies
• Any outstanding debts

A good adviser will explain your options clearly, without jargon, and won't pressure you to decide anything immediately.

Can I see client reviews or speak to an existing client?

Reputable advisers are generally happy to point you toward independent reviews (for example on VouchedFor) so you can see other clients' experiences before you commit. Some may even be able to put you in touch with an existing client directly.

What happens to my plan if something happens to my adviser?

A fair question, and worth asking. Find out whether the firm has continuity arrangements in place — another adviser ready to step in — so your plan isn't left unattended if your adviser is unexpectedly unavailable.