- Advice usually pays for itself on complex, hard-to-reverse decisions
- Simple products like standard savings accounts rarely need paid advice
- Ask whether an adviser is independent or restricted to a limited panel
- Always check FCA authorisation on the Financial Services Register first
When it usually pays for itself
Pension consolidation, inheritance tax planning and complex investment decisions involve rules and reliefs that are easy to get wrong — advice fees are often small next to the cost of a mistake.
When you probably don't need one
Opening a standard savings account, choosing a cash ISA, or building a simple budget rarely justifies a paid adviser's fee — free guidance services cover this well.
Independent vs restricted advice
An independent adviser can recommend from the whole market; a restricted adviser recommends only from a limited panel of products — ask which you're speaking to before you pay.
Checking they're regulated
Confirm any adviser is FCA-authorised via the Financial Services Register before paying for advice or handing over any money.
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