How to find the right financial adviser when you’re recently bereaved

Choosing the right financial planner can often feel like a daunting task, let alone trying to choose one during such a sensitive life event. Each firm will have their own way of ‘doing it differently,’ as a way to try and sell you what they do. The right financial planner will help make the process as painless as possible, and we can’t stress enough how important it is to find one that’s the right fit for you. That said, here are a few factors to consider… 

Will you get on? 

Financial planning is a fairly personal service that moves beyond the boundaries of transactional professional services, and nothing could be more personal than bereavement. In order to find the right adviser for you, it’s important to consider whether you share the same sort of values. You wouldn’t want to grate on one another during the process and finding an adviser that you can easily have a conversation with is one of the best ways of developing a healthy client-adviser relationship. 

Where does their experience lie?

When scoping out an adviser, make sure to ask them what they specialise in. Plenty of financial planning firms will offer estate management for those recently bereaved, but not all of them will have an adviser with a great deal of experience. Ask them questions about what work they’ve done in the past, and make sure they can give you examples where they’ve obtained successful outcomes for their clients. This should help to inform your decision. 

What’s their process?

It’s important to ask an adviser what the process will be and about the steps that are involved. They may have different ways of carrying out your wishes, and you’ll want to find the one that fits with your timescales. It’s also good to find out how they expect your relationship will work. This includes factors such as how they will contact you, how often they will be in touch to update you and their general response times to any queries surrounding your plan. 

Weigh up your options

We recommend taking the time to get in contact with a few different advisers, until you have at least 2 – 3 options to choose from. It’s a good rule of thumb to ask for recommendations from loved ones who have used a financial adviser in the past, as hopefully they will know you well enough to recognise whether you’d be a good fit for their adviser. 

You don’t have to do it alone

With it being such a sensitive time in your life, you may want to bring along one of your children or a family member to help support during any meetings that you have. Financial planning isn’t an adversarial process by any stretch, but having someone with you who might ask the questions that you’ve not thought of will help to bring more clarity and objectivity to the process. 

We hope that this blog has helped to shine a light on the things you need to think about when choosing a financial planner. For more information on how Advisa can help with planning your estate, feel free to get in contact.