Define the financial support you need

• What the two different types of financial advice providers are
   
• How to find out about the qualifications and reputation of any given advisor
   
• What the differences between big vs. small advice firms are

1. Independent Financial Advisors: Independent advisors can advice you on products from any provider throughout the market. They can sell you those products too. They should be able to suggest solutions that are just right for your circumstances & preferences. 

2. Restricted Financial Advisors: Restricted advisors can only recommend certain products or providers - if they haven't clearly told you what the restrictions are, make sure you ask for more information.

All Financial Institutions in Switzerland should be registered by FINMA, the Swiss financial Market Supervisory Authority. FINMA is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges and securities dealers, as well as other financial intermediaries in Switzerland.

Anyone can call themselves an investment or financial advisor; the job titles are not protected. Therefore, it is even more important to get information about the advisor's education. The educational qualification should be state-recognised, either by the federal government as the education authority or by FINMA. 

Officially recognised qualifications include (list not complete):

• CFP (Certified Financial Planner)
• Dipl. Finanzberater IAF
• Finanzplaner mit eidg. Fachausweis
• MAS Financial Consultant

If you believe the advice you were given violates the Code of Ethics and Standards of Conduct, since 1 January 2020, the Financial Services Act (FinSA) entered into force. For this purpose, the financial service providers must be affiliated to an ombudsman recognised by the Federal Finance Department (FDF).

A list of recognised ombudsmen can be found here.

A big firm is more likely to be able to ride out ups and downs in the market and economic conditions. They will also have more resources for detecting and stopping fraud and protecting your data. But will you get as personal a service as with a local financial advisor who can take a bit more time to understand you? If you prefer a small firm, you should ask how they protect their customers’ data and money, and make sure you’ll be able to get help whenever you need it.

Check the financial strength, history and reputation of the bank or institution. Good advisers will list their qualifications and credentials on their website or in their credentials. You can also check the quality of an adviser’s company by looking at the grades rating agencies have given them.

How about drawing up a short list of suitable potential advisors for you, e.g. by checking in with friends, colleagues and relatives, or doing some desktop research, and then assess each one of them in more detail by phoning them up and ideally also meeting them to find the right one for you.