When you first meet your adviser, he or she must provide the following documents to
discuss with you:
Business Card - This provides the adviser's contact
Client Agreement - The adviser should highlight key points but you
should read and understand this document
Service and Costs Disclosure Document - This explains the service
or services the adviser will provide to you, along with the costs
of the services. You should ensure he or she has explained this to
your satisfaction and you understand what you will receive.
This will make it easier to shop around for a competitive service and to know the
cost of advice from the outset, and most importantly, assess the value of advice
upfront. Armed with this information you can ask your IFA to explain the charges
he or she will make and choose to buy elsewhere if you think it may be better
value. This system will also reveal where independent advice is better value than
other types of advice.