Editorial Team
AUTHOR Editorial Team| CREATED 14 Jan 2016
Print Share

Prepare for your first financial adviser meeting

You’ll go into your first adviser meeting with a lot more confidence if you know what to expect and are well prepared. So what do you need to know?

You’ve set up your first meeting and you have some mixed feelings: hopeful about what they can do to boost your plans but unsure what to expect, and what they might expect from you.

No need to worry because you are in total control of the situation. You are there to find out what they can offer and decide whether you want them to work for you.

To help you feel even more in control at that first meeting, we’ve put together a few pointers on how to make sure you are well prepared and ready to start improving your finances.

Before your first meeting

To give the adviser the best chance of helping you, you need to give them a full picture of your current situation and what you hope to achieve. Start by getting together the information they are likely to ask for:

  • Your total income from all sources.
  • Your total monthly outgoings and expenses.
  • What you owe – mortgages, loans, credit cards etc.
  • What you own in both tangible assets, like home or car, and in savings and investments.
  • Details of any pensions, life insurance and employee benefits that might be relevant.
  • What are your main goals in priority order? List them out, and consider whether anyone else needs to be included in any conversations from the start.

Questions to ask at your first meeting

The next thing to do is to start thinking about the questions you will want to ask your adviser. Here are some key ones to remember:

  • What process will you use to assess my financial needs?
  • How will your services be paid for?
  • What would happen if you left your firm; would my business remain with you or the firm?

And if you’re thinking about investing some money, you may also want to ask:

  • How much control will I have over my investments once they are set up?
  • How will I be able to understand the risks associated with investment?
  • What would happen if I needed the money I have invested sooner than expected?
  • What protection do I have as an investor?

Of course, there may be other things you want to check. The adviser will probably expect you to ask questions and to take notes, so feel free to interrogate them!

Not yet chosen a financial adviser to meet with?

You can check out our 'find an adviser' tool to search for a registered financial adviser in your preferred area.


Editorial Team

Old Mutual Wealth Expert in Finance, Protection, Investments, Pensions