Member Article

What Makes A Good Financial Advisor?

With the uncertainty of the financial world and property market pre-Brexit in 2019, there is a new influx of financial advisors, all offering great incentives to potential customers.

But how should you choose who to trust for your advise and guidance at such a crucial time?

MG Financial Solutions specialises in mortgage and financial protection advise. The owner Martin Graham is keen to not see people get stung by taking poor advise, so he has put together a tick list of what to look for when choosing yourself a new financial advisor. Martin said:

“It can seem very daunting, choosing who to trust, but there are five simple steps to add to your check list. You can check these out by looking on the internet and by reading their Facebook and Google accounts, but really the onus is on a good financial advisor to provide proof of these, so don’t be afraid to them!

“Firstly, a good advisor must have access to all of market – the only way a true comparison on what is available can be made, and the best offer for you secured is if there is this access. It also means you can be sure that they aren’t steering you to a company that, for example, pays them the highest rate of commission, meaning that any introduction to a product is transparent.

“Secondly, it is very important that your advisor has a range of core products and can give you the best options on how to protect your finances. There are a lot of products that will protect mortgage payments, earnings, life and illness, and a good advisor will give you the options to understand and make sensible options on. At MG Financial we have this conversation with every client, even those just looking to borrow.

“Thirdly, as the market moves so fast and things change, make sure your financial adviser has up to date qualifications. For example, we recently launched an equity release service at MG Financial but we didn’t go to market with it, until our adviser Steve Wilson had completed all his refresher exams. It is only responsible trading and is key to your adviser being the best they possibly can be.

“Fourthly, it is important that as well as giving advise, that your advisor is some one who listens and works with you to gets the best for you. Always look for a financial guru that demonstrates they have their clients interests at heart. Ask for case studies of previous clients, ask them to demonstrate their problem solving ability and also don’t be scared of asking if there are previous clients who haven’t been happy and why!

“Finally it is often a safe bet to choose to work with someone that comes recommended. A company or advisor that puts customers service at the top of its priorities to the extent where people will tell you to put your faith in them…

“If you follow these guidelines, you and your new adviser should be perfectly matched – there is lots of talent out there, just make sure you find the right one for you!”

This was posted in Bdaily's Members' News section by Anna Toms .