What happens if you no longer need your financial adviser?

• Leaving a financial adviser is not absolute or irreversible.
• Switching advisers may have unforeseen complications.
• Weigh up the pros and cons of ongoing financial advice.

It's up to you whether you want to receive ongoing services from your adviser. If your financial affairs are simple, under control and you are able to manage them yourself after seeing an adviser, then it may be time to go it alone.

If you are paying for ongoing financial advice, but no longer want it or wish to switch financial advisers, you are not locked into a contract. However, there are some things you should consider and ensure you are satisfied with in relation to the associated costs, including:

• whether you will still have access to your current financial products as some products can only be accessed by certain financial advisers
• if you need to change financial products, the costs of selling and buying investments, time out of the market, tax implications of buying and/or selling investments, and impact on social security from buying and/or selling financial products.

You may be tempted to remain with your adviser out of convenience or emotional considerations. Remember, this is your money and financial future, so it may be worth doing so. On the flipside, your head or instincts may tell you not to remain in an ongoing advice situation.