How to find a good financial adviser — and what to look for.

There are around 27,000 regulated financial advisers in the UK. The quality, scope, and cost of what they offer varies enormously. Finding the right one for your situation — and knowing how to assess whether they're genuinely good — is a skill worth developing before you need one.

The stakes are high enough to get this right. A good financial adviser can add tens of thousands of pounds of value over a lifetime through tax-efficient planning, better investment decisions, and the discipline of having a clear financial plan. A poor one can cost you money and erode your confidence in the process altogether.

The qualifications that matter

All regulated financial advisers in the UK must be authorised by the Financial Conduct Authority (FCA). Beyond that baseline, qualifications vary:

• Level 4 Diploma in Financial Planning (DipPFS or DipFA) — the minimum standard for advising on retail investments and pensions. Required for all advisers since 2013.
• Chartered Financial Planner — Level 6 qualification, recognised as the industry's highest standard. Requires additional exams and ongoing professional development. Meaningfully fewer advisers hold this.
• CERTIFIED FINANCIAL PLANNER™ (CFP) — an internationally recognised mark of competence in financial planning. Requires examination and a commitment to ongoing learning.

You can check any adviser's registration and qualifications on the FCA Register at register.fca.org.uk. Always do this before proceeding with anyone.

How financial advisers charge

Initial advice fee

A one-off charge for the initial review and recommendation. Typically £1,500–£3,000 for a straightforward situation; more for complex cases. Some advisers charge as a percentage of assets — usually 1–2% — rather than a flat fee.

Ongoing advice fee

If you want the adviser to manage your portfolio and review your plan annually, there's usually an ongoing charge. Typically 0.5–1% of assets under management per year, or a fixed annual fee. Understand what you're actually getting for this before agreeing.

Fee-only vs commission

Since 2013, advisers cannot receive commission on most products. Fees must be agreed with you upfront. This is the Retail Distribution Review (RDR) — it significantly improved adviser incentives. If anyone suggests their advice is "free," ask how they're paid.

Restricted vs independent

An independent adviser can recommend products from the whole market. A restricted adviser can only recommend from a limited range (often their firm's own products). Always ask which you're dealing with before proceeding.

Questions to ask in a first meeting

Most advisers offer a free initial consultation. Use it to assess them as much as to explain your situation:

• What are your qualifications and how long have you been advising?
• Are you independent or restricted?
• How do you charge, and what will the total cost be for my situation?
• What does your ongoing service include, and what happens if I don't want ongoing advice?
• How do you keep up to date with regulation and product developments?
• Can you give me an example of how you've helped someone in a similar situation to mine?

Good advisers welcome these questions. Evasive or vague answers are a signal.

Red flags to watch for

• They can't clearly explain how they're paid
• They recommend products in the first meeting before fully understanding your situation
• They're not on the FCA Register or can't provide their FCA registration number immediately
• They pressure you to act quickly or suggest limited-time opportunities
• They promise specific investment returns
• Their advice is described as "free" without a clear explanation of how they're actually compensated

Where to find one

Unbiased.co.uk and VouchedFor.co.uk are the two main directories for finding regulated advisers in the UK. Both include qualifications, specialisms, and client reviews. The FCA Register lets you verify any adviser's authorisation status.

Personal recommendations from people you trust — who have had a sustained, positive relationship with their adviser — remain one of the most reliable ways to find someone good. Not a one-off recommendation after a single transaction, but an ongoing relationship over years.

Before you need an adviser: most people get significantly more value from advice when they arrive with a clear picture of their finances and their goals. Working with a financial coach first — to understand where you are and what you want — means the advice process is faster, more focused, and more cost-effective.

Get financially ready before you meet an adviser.

Your Financial Freedom Score and Roadmap give you and your adviser a clear starting point.

Not sure where to begin? Begin free.

Your Financial Freedom Score gives you a clear picture and one useful next action.