Five questions to ask before you hire a financial adviser

Choosing a financial adviser is a big decision, because you are sharing personal details and trusting someone with your future plans. A good conversation up front will tell you far more than a brochure. These five questions help you see whether an adviser is right for you.

1. What are your qualifications, and who regulates you?

Ask which professional qualifications the adviser holds and which body oversees their work. In most countries you can check a public register to confirm that a person is authorised to give advice. If an adviser is vague about this, treat it as a warning sign.

2. How are you paid?

Advisers may charge a flat fee, an hourly rate, a percentage of the money they manage, or commission from products they recommend. None of these is automatically wrong, but each creates different incentives. Ask for a clear written breakdown of all costs, including any paid to third parties, so there are no surprises.

3. What is your process, and what will I receive?

You should come away knowing what the work involves, how often you will meet, and what you will get at the end, such as a written plan or regular reviews. A clear process shows that the adviser has thought about how to serve clients like you.

4. Who do you usually work with?

Some advisers specialise in business owners, others in people close to retirement, others in young families. Someone who regularly handles situations like yours will spot issues sooner and suggest more practical ideas. It is also fine to ask for examples of how they have helped clients in similar positions, without names or private details.

5. How do you handle conflicts of interest?

Every adviser has some. What matters is whether they are open about them and how they manage them. A good answer is direct and specific, and it explains how your interests come first.

Trust your sense of the conversation

Beyond the answers, notice how the adviser listens. You should feel comfortable asking basic questions and hearing plain explanations without jargon. If you leave a meeting more confused than you arrived, it is fine to keep looking.

This article is general information and not personal financial advice.