How to choose a financial adviser

If you’re asking yourself how to choose a financial adviser, you’re not alone. 69% of adults say they have “sought financial advice” at some point. But what is a financial adviser?

What is a financial adviser and what does a financial adviser do?

At its simplest, a financial adviser creates a plan to help you make informed decisions about your money.

They’re regulated by the Financial Conduct Authority to offer financial advice. You bring the context of your income, goals, commitments, and family situation; and they bring experience, expertise, and the one-to-one skills to lay out your options clearly. That advice may span areas such as succession planning, tax-efficient planning, retirement planning, or putting long-term financial plans in place.

At Charles Stanley, our Financial Advisers are also connected to our Investment Managers who don’t advertise to the public. If appropriate, an adviser may recommend a range of financial products and investment funds. Their role here will be to help you set your investment objectives, understand risk, and achieve your goals.

How much does a financial adviser charge? 

Understandably, one of the first questions people ask is how much does all this cost. 

With some advisers, it’s like choosing services off a menu. They charge a flat fee for specific pieces of work, such as conducting a review of your finances or creating financial plans. Other advisers, you pay an ongoing fee which is a percentage of the assets they manage for you. This is most likely the case if investments are involved. Some advisers charge an hourly rate, however this is less common.

Whichever approach is used, fees should be out in the open from day one. You should understand exactly how much you’ll pay, when, and what service you’ll receive. A good adviser will be comfortable talking openly about costs and advise on whether the value stacks up for your situation.

How to find a financial adviser

If you’re hunting for an adviser, many people start by asking around for recommendations from friends and family. This is one of the best routes as referrals from people you trust who are in a similar position to you say a lot about the adviser – and that they probably know what they’re doing. 

As you search, it’s worth understanding the different types of financial adviser. Some are independent financial advisers (IFAs), able to recommend products from a wide range of providers. Others are restricted advisers, meaning they only recommend products from a limited range from one provider. 

Experience is also an important consideration. Pay attention to how advisers explain what they do and the areas they specialise in. One who regularly works with business owners may think differently to someone who focuses on retirement planning or inheritance planning.

When you’ve found someone you like the look of, you may choose to arrange a face-to-face meeting. This is usually exploratory. You can ask about how they work and find out what a long-term dynamic would be. You’re learning about them just as much as they’re learning about you. 

Regardless of how good things look on paper, remember, chemistry matters. You should feel comfortable asking questions and saying when something doesn’t make sense. Do they take time to understand your situation properly? Do they explain things in a way that feels real?

How does the Financial Conduct Authority regulate financial advisers?

In the UK, financial advisers are regulated by the Financial Conduct Authority. This regulation exists to protect you as a client and ensure advisers meet professional standards.

You can check whether an adviser is regulated by the Financial Conduct Authority using the Financial Services Register, which will also show whether they are independent or restricted. What matters is that the adviser is clear about their status. 

There often comes a point when people recognise a dilemma in their finances and think, “Should I speak to a financial adviser?” If this is you, you may want to explore your local Charles Stanley branch to learn more about our advisers, their approach, and how they’ve helped others. 

Sources

Mintel, UK Consumers and Financial Advice Report, 2025