Some of the most common questions in r/FinancialPlanning this week were about retirement planning, inheritance, and whether it's worth paying for a financial adviser at all. That last one has no single answer. It depends on how complicated your situation is, and on the adviser.
What you can do is ask good questions before you hire anyone. This list is neutral: it doesn't recommend any firm or type of adviser. Take it to a first meeting and tick off each question as it's answered clearly.
Questions for the first meeting
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How are you regulated?
How are you paid?
What will you actually do?
About me
Official tools to check an adviser
- US: SEC Investment Adviser Public Disclosure and FINRA BrokerCheck
- UK: FCA Financial Services Register
We're not connected with any of these organisations or with any adviser. This list is for general information; it is not a recommendation to use, or not use, any particular adviser or service.
Questions people ask
Do I need an adviser at all?
Not everyone does. Many people manage simple situations themselves. Advice tends to be most useful when decisions are large, complex or hard to reverse. Only you can judge which applies.
Is a free first meeting a good sign?
It's common and can be useful. Just make sure you understand how they'll be paid if you go ahead.
Sources
Keep going
The first family meeting about Mum or Dad
Before, during and after the first sibling conversation about a parent's care.
Who covers what?
Assign each regular care job to a person and see who's overloaded and what's uncovered.
Talking to your manager about caring for a parent
Prepare to ask your manager for flexibility around caring, without stepping back from your career.
