How to know if my financial adviser is good?
- Nic Round: Chartered Wealth Manager
- Feb 13
- 3 min read
Updated: 1 day ago
In the UK, good financial advice is rarely about beating the market or producing dramatic results. It is usually about clarity, suitability and steady decision-making over time.
Behind this question are often quiet concerns:
Am I paying for real value?
Should I expect better performance?
Is this service normal?
Would I notice if something wasn’t right?
These are reasonable questions.
How to know if your financial adviser is doing a good job
What good financial advice usually looks like
A good adviser does more than select investments.
You should expect:
Clear explanations of strategy
Transparent fee disclosure
Regular reviews
Suitability reports that reflect your circumstances
Adjustments when life changes
Advice should feel structured, not reactive.
Performance alone is not the measure
Many people judge advisers primarily on investment returns.
But markets rise and fall.
Short-term performance rarely proves whether advice is good or bad.
More useful questions include:
Is the portfolio aligned with my risk tolerance?
Has tax efficiency been considered?
Is my retirement plan sustainable?
Do I understand the strategy?
Good advice reduces regret and panic — it does not eliminate volatility.
A practical review framework
If you are assessing your adviser, consider:
1. Clarity
Do you understand why your investments are structured as they are?
2. Communication
Are meetings regular and meaningful?
3. Proactivity
Does your adviser raise issues such as tax allowances, pension changes or regulatory updates?
4. Suitability
Do recommendations reflect your current life circumstances?
5. Value
Can you clearly explain what you are receiving for the fees paid?
If these areas feel unclear, that may be a signal worth exploring.
A simple example
Imagine:
You pay 0.8% annually on £700,000 (£5,600 per year).
You receive one short meeting per year.
No cashflow modelling.
No tax planning discussion.
Limited explanation of investment structure.
You may reasonably question value.
In contrast, if that same fee includes:
Retirement modelling
Pension withdrawal strategy
Inheritance tax planning
Behavioural support during downturns
Ongoing plan adjustments
The context changes.
Cost without context can feel heavy.Cost with structure often feels different.
The behavioural reality
Often this question arises not because something is clearly wrong, but because:
You feel uncertain.
You don’t fully understand the strategy.
Communication feels thin.
You are unsure what “good” should look like.
That uncertainty deserves attention.
But it does not automatically mean your adviser is failing.
A more useful question
Instead of asking only:
Is my adviser doing a good job?
A more constructive question might be:
Does the service I receive improve the quality of my financial decisions?
That shifts the focus from performance comparison to decision clarity.
And decision clarity is usually where long-term value sits.
Some of the most common practical questions people ask about adviser performance are below.
Should my financial adviser beat the market?
Not necessarily. Advice focuses on suitability, tax efficiency and long-term planning rather than short-term outperformance.
How often should I meet my financial adviser?
Many advisers offer annual reviews, though frequency may vary depending on complexity.
What is a reasonable financial adviser fee?
Ongoing fees often range between 0.5% and 1% annually, depending on service level and complexity.
Can I change financial advisers easily?
Yes. You are not permanently tied to an adviser, though transfer processes should be handled carefully.
A calm place to think first
If you are questioning whether your adviser is doing a good job, you may not need to act immediately.
Often the most helpful first step is clarifying:
What you expect from advice
What you are currently receiving
Where uncertainty exists
Evoa exists to provide that quiet thinking space — before advice, before action.
Comments