Time for a change?

By THIS IS MONEY
Updated:

 

How do I sack a financial adviser? JM, Sunderland.

Linda Whitney says: Good question. I've never seen any article or advice about this before so I found an ex-financial adviser who told me anonymously how she would prefer to be given the push by a client.

She said: 'I know it can be embarrassing for both sides, but ideally tell them face to face or at least on the telephone. Don't just write and say goodbye or worst still disappear. From the adviser's point of view it will help them if they know your reasons for leaving.

Constructive criticism could help ensure that whatever made you leave is sorted out for the benefit of other clients. But a proper parting is even more important from your point of view. If the adviser was not suitable for your needs they might be able to refer you to another who is more knowledgeable in your area of concern.

A proper wind-up of the relationship could also avoid you making costly mistakes, such as cancelling products that the old adviser sold you.

In many cases, unconsidered cancellation can be a mistake that loses you money. And if you part amicably the old adviser can, with your permission, pass on your records to any new adviser that you have chosen, saving you having to go through lots of product details and history again.'

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