When I was little my dad cut my hair. 

I suppose I could (just about) get away with a sort of pudding bowl hair cut for girls and cuts around my ears at the age of 15 (actually more like 5) but when that was no longer an option I made my first foray into one of many local coiffeurs.

At this point, let me explain that I am extremely short sighted.  So getting my hair cut was always something of an anxious experience.  There was that moment when I would stop squinting and put my glasses back only to be left with a sinking heart.

The haircut never lived up to my expectations!

However my experiences in the world of hair can also be applied to the world of money.

I was recently speaking to Maggie about her experience of finding a financial planner.

Over the years they had seen a range of advisers – those in banks to local independent financial planners.

They would go in to see them to discuss Maggie’s needs and come out with a ‘solution’ in hand.

However when they got home she would find themselves feeling a little bemused. 

So, why would Maggie feel bemused by her experience with financial advice? and what can she do to change this?

I believe that it’s not about the specific ‘advice’. I think the issue is more fundamental than that. I believe it comes down to the relationship between adviser and client.

Each adviser is differentiated by a number of things such as being independent and restricted, male or female, those who like to dress formally and those that don’t.

We are all different and there is not one type of adviser that is perfect for all.  However, how do you find the right adviser for you?

Most, not all, will offer an initial meeting at their expense.  Use this opportunity to get meet at least a couple of different advisers, so you have a comparison.

In addition to the advisers having the appropriate qualifications, ask yourself the following questions:

–          Are they listening to you?

–          Are they asking you questions which prompts you to think about things in a different way?

–          Do you like them enough to work with them?

–          Do you feel comfortable discussing not just your finances but your life so far and future plans with them?

Finally, please do not ever feel that you must go with a particular adviser simply because you have spent an hour or so of their time.

If you have any doubt that they are not listening to you and fully understand your motivations and objectives, it’s okay to say ‘no thank you’.

I’ve met people who have said they felt guilty about ‘wasting’ the advisers time as they went to see them about a particular concern but the adviser spent most of the meeting trying to convince them why it was best to take out a pension with them and use their investment strategy.

Great if that was what you were looking for but if not then they are not the right adviser for you.

Fret not. There is a happy ending to this story. 

I live in a small town but the sheer number of residing hairdressers is quite amazing.

One day, a friend recommend one in particular and so with some trepidation I met Giuseppe and am pleased to say I have never looked back.

Maggie’s story also has a happy ending. 

Through recommendation she found her perfect adviser and has been seeing them for a good few years now.

This only serves to strengthen the working relationship and trust that Maggie’s financial planning will remain on track.

That’s why regardless of whether it is related to your haircut, or your financial planning the lesson is the same…

Find someone you’re comfortable working with for the longer term and don’t settle for the ‘dodgy haircut’ in whatever service you need.

If you would like more information on finding your perfect financial planner please call us on 08450568959