How To Choose A Retirement Financial Advisor

retirement pension

It’s never too early to prepare for retirement. You could be reading this as a young adult, still getting started with your professional life but already years ahead with your financial preparation.

Or, you could also be one with your retirement just looming around the corner, now scrambling to get a few steps ahead of it.

Whatever the scenario may be, everyone will eventually reach their retirement age. And, while the freedom of relaxing and not having to go to work seems exciting, it’s also that phase of your life you have to prepare for, financially. The first step to ensuring a good retirement is planning well for it with the assistance of a retirement financial advisor Glasgow.

To help you, here’s a guide on how to choose a financial advisor for your retirement.

Focus On One That Offers Retirement Planning Services

Okay, this first stance here might seem like quite an obvious one to do. But it can’t be over-emphasized enough. There are many financial advisors out there. However, not all of them will have expertise or specialization in retirement planning. Because your intended purpose is to stabilize your retirement, it’s important to choose one with quite a range of knowledge in terms of retirement planning.

Don’t be shy to lay your cards on the table. Ask about this right away. If a particular financial advisor doesn’t have experience handling retirement-related matters yet, then it may be best for you to move on to another financial advisor instead.

Dig Deeper Into The Specific Facets Of Retirement You Need Help With

Now that you may have found one that has expertise with retirement planning, it’s time for you to dig even deeper. There are so many facets of retirement that can be affected by good or bad financial planning. So, be sure to dig even deeper as to what those facets of retirement are. This step is also important for you to have an overall gauge regarding the range of knowledge your financial advisor will have.

For instance, some of those facets of retirement planning include:

  • Tax planning, as you’ll still have taxes to pay, even as a retiree;
  • College planning, if you’ll still have school-age kids during your retirement years;
  • Investment advise, so you can have a stream of passive income to augment your retirement pension;
  • Insurance coverage, to check whether or not your current insurance policies are enough to give you stability and security during your retirement, should you also fall ill; and
  • Debt management, if you still have some outstanding debts you’re paying for.

Check The Credentials

In this world where competition is stiff, credentials are everything. Don’t skimp on this. You need to select the financial advisor with the best set of credentials. This can give you the assurance you need that indeed, that particular financial advisor can work best to your advantage.

For instance, your retirement financial adviser should at least have any of these well-recognized standards: Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP). When a financial adviser holds those accolades, it means they’ve mastered quite a wide range of knowledge and have passed a comprehensive examination to qualify as a financial advisor.

Determine What You Can Afford

As is the case with hiring any other financial professional, ask about their fees. You need to determine what you can afford. Otherwise, you may end up paying so much more than you intended to for a financial advisor. Remember that you’re planning stability for your retirement. So, you have to end up hiring not just the financial advisor you need but also the one you can afford.

Don’t be swayed to immediately pay for someone you can’t afford. The fees aren’t always a determinant of quality. It’s still up to you to weigh the cost or the fees with the credentials of the subject financial advisor.

Search For Good Character

Lastly, once you’re convinced about the credentials, be mindful too about the character. No matter how good a financial advisor is, if their character is less than desirable, then you’re only going to have an unpleasant experience working with them.

Your chosen financial advisor should make you feel comfortable working together. It’s like you’re merely talking to a friend. They shouldn’t make you feel as if you’re incompetent or you’ve got no knowledge at all about anything finance-related. Remember you’ll be working together closely, quite regularly. You should be happy to meet your advisor – not dread it.


As you hire a retirement financial advisor, you’re hiring an expert in this industry to work for you. Remember, during your retirement years, you may no longer receive an income from a job. If you want to enjoy more than what your pension and retirement benefits can give, you have to be more strategic with your finances even early on. In the hands of the best retirement financial advisor, that’s possible. So, be mindful enough to apply the tips above.