Financial Advisers work across a range of areas. Typically, these include planning for retirement, saving/investing money, accessing a pension, estate planning, life cover and navigating the tax system.

If you decide to use an adviser, one of the biggest decisions you will have to make is whether to work with a financial adviser face-to-face or remotely. 

Meeting face-to-face with a Financial Adviser

The biggest benefit of working with a financial adviser face-to-face is the ability to establish a personal connection. When you meet with a financial adviser in person, you can establish a sense of trust and rapport that is difficult to achieve over the phone or Zoom. This can be especially important when discussing sensitive financial information. This can be particularly helpful if you have paperwork on exiting plans that you want to review.

Additionally, working with a financial adviser face-to-face allows you to have a more in-depth conversation about your finances. You can discuss your goals and concerns in more detail, and your financial adviser can provide you with more detailed and personalised advice.

However, there are also some downsides to working with a financial adviser face-to-face. One of the biggest is the time and effort required to schedule and attend in-person meetings. You may have to take time off work or travel long distances to meet with your financial adviser, which can be inconvenient.

Livingston-based advisers add “If you are based in Scotland and are meeting an adviser remotely, make sure they have a good understanding of the Scottish Tax System. Many taxes are devolved to the Scottish Government and therefore differ from the rest of the UK”.

Meeting remotely with a Financial Adviser

On the other hand, working with a financial adviser over the phone or Zoom has its own set of pros and cons. One of the biggest benefits is the convenience of being able to schedule and attend meetings from anywhere, without the need to travel. This can be especially beneficial for those who live in rural areas or have mobility issues.

However, one of the downsides of working with a financial adviser over the phone or Zoom is the lack of personal connection. It can be harder to establish trust and rapport over the phone or Zoom, and you may not have the same level of detailed conversation as you would in person.

Final Thoughts

Finally, anyone offering Financial Advice in the UK must be authorised and regulated by the Financial Conduct Authority (FCA).  This can be checked by visiting the Financial Services Register – FCA Register. If you are meeting with an adviser face-to-face you can check the office is real and matches the address on the register.

If you are dealing remotely, you need to ensure that you are actually dealing with the company that is listed on the register. Cloning is a type of financial fraud where scammers create a fake company or website that closely mimics a legitimate company or website in order to trick people into giving away personal information or money.