how to sort out your finances

Why Am I Not Happy With My Financial Adviser?



Posted on: 19th May 2021

When it comes to your money, only you know how to be happy with it. When you bring on a financial adviser you want to feel everything is fine with your finances and your future, but there could be moments of uncertainty from certain areas of the relationship that make you feel uneasy, but you need advice on how to sort out your finances.

How do you know if what you may be feeling is due to the adviser being the wrong fit, and are those feelings justified by their behaviour?

Granted many things can place a feeling of doubt in your mind, and they can range from inexperience or lack of education to their philosophies not matching your own. Sometimes it can be that the advisers work on a commission structure and may press you to move from one investment to another.

To better ease your concerns, there are some huge warning signs that further fuel the worry that your adviser is not working for you.

Jump on the Opportunity

If your adviser is applying high pressure and scare tactics into making you act quickly on an opportunity, then you have a salesman instead of an adviser. A salesman is about acting in the best interests of a product or business, an adviser is about the client’s best interests.

If an adviser is wanting you to make a quick decision on a product, cut the cord.

Impress with the Promise of High Returns

Sometimes you have to apply the tried and trusted notion that if it seems too good to be true, it probably is.

If your adviser boasts about returns that are guaranteed to come to you or likes to let you in on their secret reserved for their best clients, then it stands to reason that they would be willing to properly educate you on exactly the risks and costs associated with the returns. If something is secret – then why is it reserved for their best clients and not all of them.

An adviser’s main job is to inform you of everything for you to make the right decision for your financial security. If you are left with grey areas and not being informed about them, it’s time to brighten it by moving on to the best independent financial advisers UK.

Tell a Story Instead of a Showcase

If your adviser is telling the story of what could work instead of showing you results of what is working, then it stands to reason that you are watching a talk instead of a plan of action.

An adviser is someone you pay money to show you how they add value to your financial plans, not one who regales you with all the wonderful things they do for other people. An adviser will understand that time is money, and your money is what is on the table.

There are many telling signs that an adviser is not working out well for you, and you shouldn’t suffer financially by learning that your gut instinct was right all along. For independent financial advisers Cheshire that have your interests as the focal point and knowledge on how to sort out your finances, contact the team at Haven IFA today.