Want to find the right financial planner for you? 3 reasons you should ask for a recommendation

Speaking to a trusted friend or family member when making a major purchasing decision can be a valuable part of your decision-making process. When significant expenditure is involved, it’s only right that you’ll want to get a sense of whether the product or service you’re considering is likely to be good value.

If that friend or family member has already purchased the item, or used the service, their feedback will carry even more weight, as they should be able to tell you what you want to know.

With this in mind, it should not come as a surprise to learn recent research shows that 90% of investors polled found their financial planner by speaking to a friend or family member. According to FTAdviser, LV’s quarterly Wealth and Wellbeing Monitor also found that just 24% of investors found their adviser online or through a directory.

As a woman, it’s more important than ever to ensure you’re likely to feel comfortable with the financial planner you work with. Beside trust, you also have to consider personal security and whether the financial planner can empathise and understand issues that impact on women’s finances.

So, if you are looking for a financial planner or know someone who could be, read on to discover why word of mouth is typically the best way to find the right adviser for you.

1. You’ll benefit from the peace of mind of finding the right person for you

Few things provide the same reassurance as a personal recommendation, as you know the individual making the recommendation has already worked with the planner.

This means they can vouch for their competence and professionalism, but also give you an insight into their personality and how they operate. This is critical, as you can get a sense as to whether they are the right person or firm for you.

Listen carefully to learn how reliable they are, and how quickly they respond to your friend or family member’s enquiries. Also, find out whether the adviser has helped build their confidence around their wealth, dealt with any limiting beliefs through coaching, and used clear, jargon-free explanations?

This is important, as a planner who provides empathetic coaching will help you make the right decisions. Clear explanations also mean you’ll understand your wealth strategy, making it more likely to succeed.

2. You’ll be reassured that the planner has the expertise to help

While many financial planners have a broad understanding of issues that impact on women’s wealth, few specialise in helping women directly.

Women are more likely to face specific challenges around retirement planning and getting a fair settlement in divorce. This is why dealing with a planner experienced in these areas could be critical.

In addition, women’s confidence around money and wealth can be limited if it’s something that, historically, a husband deals with, or used to deal with. The latter could be because of divorce or bereavement.

Speaking with a friend or family member who uses a planner experienced in dealing with women’s financial challenges provides the reassurance you need that they will be able to help you. Be sure to find out how they speak to your friend. For example, is it a non-judgemental tone that is encouraging and helpful?

And have they provided solutions that means your friend or family member is now living life to the full, or expects to in the future?

3. You’ll have the peace of mind they will work in a way that helps you

Everyone’s situation is different. Whether you are a career woman, caring for your children, or both, it’s important the planner understands you, your goals and ambitions.

Part of that includes helping some women develop the courage to face an unknown or uncertain future. This involves developing trust and a long-term working relationship.

By speaking with a friend, you can find out whether that type of relationship exists with the planner, and whether it’s led to optimism about their future.

How we can help

As Certified Financial Coach and holistic financial planners who specialise in working with women, we aim to develop client’s understanding of their wealth and boost their confidence. Doing this ensures they can feel better about their financial situation and have the belief in themselves to create the life they deserve.

If you already work with us and know someone who could benefit from a financial planner, please give them our contact details.

If, on the other hand, you would like to speak to us about your financial situation or a change in circumstances, please call us on 0116 262 1414. At Tilton Conway we help you achieve financial peace of mind for yourself and your family, whether that’s meeting a financial goal, building an emergency fund or protecting your family’s future.

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