Consumer reviews of financial advisors. Helping people find a recommended financial adviser in their area.
You would expect to be able to find reviews of financial advisors on the internet. Bearing in mind that getting your financial planning in order is one of the most critical things you can do you would have imagined that online reviews of these advisors would be easy to come by.
Since 1995 Amazon has showcased the power of ratings and reviews – but interestingly in the area of consumer goods where sums of money on the table are relatively small. Whilst with financial advisors the stakes are significantly higher – so reviews would be all the more valuable. It’s just a shame when you search for an IFA you cannot find any.
But the issue here is twofold. Firstly consumers love to review with a sense of immediacy. You buy that great consumer product receive it at home, unwrap it, toy with it and get online and tell the world what you think. The point is you know what the result of that ‘sale’ is not too long after the deal is done. Secondly for most products it’s fun to write reviews – in fact in many respects it’s part of the consumption experience. We all did this before the internet existed anyway. It was just that some of the best rating and review websites make it easier to find an audience who wanted to listen.
That is of course where rating financial advisers presents a few challenges. Firstly you have to wait a period of time to know if the advice was any good. Secondly a good deal of financial advice, but it’s very nature, is too complicated to carry out that appraisal. You might even need an advisor to tell you if the advice you had from your IFA the first time round represented good value for money. Thirdly how many people are going genuinely take pleasure it going through that process.
It’s is here where ratedadvisor.com comes into it’s own. Connecting consumers with those reviewers with a passion and knowledge of sound investment strategies combined with the desire to spread the word about a good IFA. It’s taken a little time to connect the two but if knowledge is power then connecting to a recommended financial advisor will make a difference to UK consumers planning for a better future.