1. What kind of financial advice do you give?

I just need to get started saving toward my financial goals – can you help, or do you usually only help people who want to save for retirement, or perhaps you only help people with large sums of  money to invest?

Here at Seventy Financial Planning we help everybody to plan for their future. We see people in all age brackets and from all walks of life and we can help everybody to achieve their aims.

2. How do you get paid?

Advisors can use a variety of fee structures. To keep it simple and avoid conflicts of interest, focus on fee-only advisors. They don’t get commissions for selling products and thus are giving you independent, impartial advice.

3. What are my all-in costs?

Make sure your financial adviser is able to give you a complete breakdown of all your costs and fees. You’re looking for someone who will do this as standard and who is very upfront about what costs you will incur. The more open they are with this information, the better it is for you overall as it’s easier to understand what you’re paying for.

4. What are your qualifications?

Financial professionals can have a confusing list of initials behind their names. You’re looking for an accredited advisor who’s regulated by the FCA - regulation and monitoring is there to protect you, the consumer, and you should only consider working with someone who can offer you that protection. 

5. How will our relationship work?

Put another way: How much access will you have to the advisor? You want to know how often you’ll meet and whether he/she’s available for phone calls or emails outside of scheduled appointments.

6. What information will you need from me?

We always conduct a thorough and full factfind with our Clients. This tells us what you need now, and in the future, in terms of financial advice.  

7. What's your succession plan?

As you’re dealing with a person that’s in the business of helping others plan for retirement, you should hope that your financial planner has his or her own future mapped out as well. That person should understand that his or her own career won’t last forever and should have a good plan in place to assure your needs are met once that future comes to pass.

That succession plan could be as simple as having a written strategy of how your money is managed today, what your goals are, and what the likely next steps or stages are along your financial plan. What matters is that you know you’re taken care of if your planner happens to leave the business whether by choice or by necessity.

8. What happens if I die or become incapacitated?

This question is one of the key reasons to consider engaging the services of a financial planner in the first place. Even if you are one of the smartest money managers in the world, there will come a time when you aren’t, either through your passing or potentially through cognitive decline. You want your money to either be there to provide for your care in your decline or to efficiently transfer to those you care about once you’re gone.

A strong financial planner will be able to help you with both a good estate plan and with solid strategies for protecting your money from unethical characters that would take advantage of the elderly. Note, though, that even the best financial planner can only provide you with so much protection from your own choices. It is, after all, your money, and unless you’re found mentally incapacitated, you will have the ultimate say over where your money goes.

9. How often will we meet?

Especially early in your working relationship, you will want to keep closely connected with your financial advisor. Once you’ve established a solid plan, things can be more on autopilot, but you’ll still want regular contact with your advisor. After all, life happens, and the more in touch you and your financial planner are, the easier it will be to adapt your plan to the other changes in your life and priorities.

As a result, most reputable planners will likely want to meet with you at least twice a year. That provides a reasonable balance between adapting to changes in your life while not being so overly reactive to daily changes in the market. Even with that regular check-up, your advisor should have something of an open door policy and be willing and able to meet with you more frequently as your needs and conditions change.

10. Do I have to have a lot of money to need a financial adviser?

Not at all. We help people in all financial circumstances to plan and prepare for a better future. We don’t have a minimum wealth criterion or any set expectations about our Clients earnings or wealth. Simply put, we’re happy to see and speak to everyone, regardless of their current financial situation or circumstances.

11.  Do I have to be a certain age to speak to a financial adviser?

There are no age limits to who we can help. Providing you’re over 18, and have your own bank account, we can talk to you about what we can offer and how we can assist you to map out your financial future. We often say that although it’s true that it’s never too early to begin planning your finances and saving, it’s never too late either, and we’re here to offer advice and help no matter you might be in life.

12. Is my personal data secure with you?

The new GDPR rules heavily regulate what firms like us can do with your data. We don’t sell it on to anyone, we don’t pass it on to any other companies, and we don’t store your data outside of the UK. We maintain a sophisticated Client database so we can ensure we keep track of all our Client records, investments and information, but no-one outside of our firm has access to that information.

Start planning your future. Speak to us today.

Contact Us

Seventy Financial Planning
The Apple Store, Haggs Farm,
Haggs Road, Follifoot, Harrogate,

01423 611004

[email protected]

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