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Retirement planning is a complicated business so it’s essential to have a professional on your side to guide you through the process. So how do you find one and how can you be confident they know what they’re doing?

Firms that give financial advice - giving recommendations as to which financial products you should buy after studying your personal circumstances – have to be regulated by the Financial Services Authority, or be the agent of a regulated firm.

The names of these regulated firms and their agents are placed on the FSA’s Register and have to meet certain professional standards. Only deal with companies that are on this register.

When choosing between advisers, ask them what their specialist areas are as some may have great reputations for investment, for example, but have had limited exposure to the pensions world. Also, establish what the adviser’s qualifications are. Many advisers have passed advanced level or specialist exams.

Some advisers (independent financial advisers) can make product recommendations from the whole of the market while others (tied or multi-tied advisers) are limited to only one or a small number of product providers.

The best advice is to find someone with whom you are comfortable talking, who you can speak with in the future if necessary, and who can explain each recommendation and why they think it is suitable for your needs.