Frequently Asked Question
An independent financial adviser is a regulated financial services professional, trained to assess your individual financial circumstances, attitudes to risk, and goals you want to achieve in order to create a personalised investment plan with recommended investments. It can be as hands off as you want it to be, but comes at a cost. We think these services are only really necessary once your finances become complex, or you have a large amount of money to invest, or if you feel particularly unsure about making your own financial plans and investment decisions.
We offer two routes to helping you find a financial adviser. Following this, we recommend that you narrow the list down to three, and then try to speak to the adviser face-to-face to make sure they are the best person for your needs. A strong relationship is advised, as you could spend many years in their service.
An adviser will conduct a discovery meeting to discuss your specific financial circumstances and what you would like to achieve. You don’t need much prior knowledge to this, although we would recommend completing the free Steps 7-day email course so you have a basis of understanding and feel confident to ask on areas you’re unsure about.
A restricted financial adviser will carry out the same financial assessment as an IFA, however any recommended investments won’t be selected from the entire market, but rather a narrower investment range. An example might be only index trackers are recommended.