The Top Questions to Ask Your IFA Before Investing

Choosing to invest is a significant step. Whether you’re just starting out or reviewing your existing strategy, working with the right Independent Financial Adviser (IFA) can make all the difference. But knowing what to ask at that first meeting isn’t always obvious.

This guide is designed to help you prepare for that conversation. By asking the right questions, you’ll gain a better understanding of how an IFA works, how they manage investments and whether their approach aligns with your goals. At SVWM, we believe informed clients make better decisions, and we welcome honest, thoughtful dialogue.

What Is an IFA?

An Independent Financial Adviser (IFA) is a professional who offers impartial advice across the full range of financial products and providers available on the market. Unlike tied advisers, who can only recommend solutions from a single provider or a limited panel, IFAs are free to source the most suitable option based on your needs.

This independence is key. It ensures recommendations are made in your best interests, not driven by sales targets or commission agreements. IFAs must be authorised and regulated by the Financial Conduct Authority (FCA), which holds them to high standards of professionalism and accountability.

Why It Matters to Ask the Right Questions

Investing involves trust. You are handing over control of your financial strategy to someone else, and you deserve to feel confident in their ability to guide you. Asking the right questions is not just about gathering information – it’s about establishing whether the adviser understands your circumstances and can tailor their advice accordingly.

Here are the top questions to ask your IFA before you invest.

1. What Are Your Qualifications and Regulatory Status?

This is your foundation. Any professional IFA should be able to explain their qualifications, experience and regulatory status clearly. Look for advisers who hold a minimum of Level 4 qualifications in financial planning and are authorised by the FCA.

You can also check their status on the FCA Register. At SVWM, all our advisers meet and exceed these standards, and we’re happy to explain our credentials in plain terms.

2. How Are You Paid?

Understanding how your IFA earns their income helps you assess any potential conflicts of interest. IFAs may charge:

– A flat fee for advice
– A percentage of assets under management
– Hourly rates
– Commission on certain products (though this is restricted by regulation).

Ask for a clear explanation of their fee structure. You should know what you’re paying, what it covers and whether it continues on an ongoing basis.

At Strategic Vision Wealth Management, we provide full transparency on fees before any commitment is made, so clients can make an informed choice.

3. What Is Your Investment Philosophy?

Every adviser has a different approach to building portfolios. Some prefer passive investment strategies using index funds. Others may favour active management, adjusting holdings more frequently based on market conditions.

Ask your IFA how they choose investments, what role risk plays in decision-making and how they diversify assets. Their philosophy should align with your values and tolerance for risk.

SVWM adopts a client-first approach to investment planning, with portfolios designed to reflect both short and long-term objectives.

4. How Do You Assess My Risk Tolerance?

Risk is personal. What feels like a comfortable level of risk to one investor might cause anxiety for another. A good IFA will ask the right questions to understand your emotional and financial response to risk and match your investment plan accordingly.

This usually involves a mix of questionnaires, conversations and review of your current situation. Make sure your IFA takes the time to explore this properly.

IFAs who gloss over this step risk placing clients in unsuitable investments. At SVWM, we use a proven risk assessment process that informs every part of our advice.

5. What Kind of Ongoing Support Do You Offer?

Financial planning is not a one-time event. Circumstances change, markets shift and goals evolve. Ask how often you’ll meet your adviser, whether you’ll receive regular performance updates and how accessible they are if you have questions between reviews.

Some IFAs provide only initial advice with minimal follow-up. Others, like SVWM, build long-term relationships with clients and stay actively involved in their financial journey.

6. What Is Your Experience With Clients in My Situation?

Every investor is different. If you’re a business owner, nearing retirement or managing intergenerational wealth, you need an IFA who understands the unique challenges of your position.

Ask for examples of how they’ve helped clients with similar profiles. Their experience should give you confidence that they can guide you effectively.

At SVWM, our advisers work with a wide range of individuals and families, and we tailor our advice to the nuances of each case.

7. How Do You Measure Success?

You and your IFA should be working toward the same definition of success. It might be reaching a certain income in retirement, paying for your child’s education or simply knowing your finances are well-structured.

Ask how they measure the performance of their plans and how they report results back to you. A focus on meaningful, long-term goals is usually a better sign than an obsession with short-term returns.

IFAs who centre the conversation around your aims, not just investment figures, are more likely to deliver outcomes that matter to you.

8. Can You Explain Your Recommendations in Plain English?

Financial advice should never feel like a lecture. If your IFA can’t explain their reasoning in a language you understand, that’s a problem.

Ask for examples of how they communicate complex ideas, what kind of reports you’ll receive and whether they encourage questions.

At SVWM, clarity is a priority. We make sure every client leaves a meeting feeling more confident, not more confused.

9. Are You Truly Independent?

While the term IFA should mean independence, not every firm operates with full freedom. Some claim independence but rely heavily on a limited panel of providers.

Ask whether their recommendations are truly whole-of-market or restricted in any way. A clear answer to this question tells you a lot about how committed the firm is to finding the right solution for you.

SVWM operates with full independence and no allegiance to any product provider, ensuring our advice is guided solely by our clients’ best interests.

10. Who Will I Be Dealing With Day-to-Day?

Some firms assign you a single point of contact. Others operate as a team, where different people handle different aspects of your plan. It’s important to know who will be managing your account, who you’ll speak to regularly and how decisions are made.

Ask whether you’ll have a dedicated adviser, how frequently you’ll hear from them and what kind of relationship you can expect. The answer will give you a clearer picture of the service style and whether it fits your preferences.

At SVWM, each client has a dedicated adviser backed by a close-knit support team. We believe in building long-term relationships based on trust, clarity and consistency. You won’t be passed from department to department. You’ll always know who to contact and what to expect.

Ready to Speak to an IFA?

Asking the right questions is the first step to building a productive relationship with your financial adviser. At SVWM, we encourage it. We’re here to listen, to advise and to work with you to create a plan that reflects your goals and values.

Book a discovery call today and bring your questions with you. We’ll answer them clearly and honestly, without pressure or jargon.