The Fact Find and What to expect

Home The Fact Find and What to expect
Sunny Avenue
Financial, Insurance, Mortgages, Commercial Sunny Avenue
31 May 2024

You may be seeking advice for the first time and discussed the prospect of a Fact Find. This is not a way to trick you out, and you have nothing to hide. It's part of the process of giving advice and normally a requirement that findings are documented during a recommendation stage.

In this insight, we explain what the Fact Find is, what you can expect from a Fact Find and Sunny Avenue's take on a Fact Find to help you get started with your financial planning.

Key Takeaways

  • A fact find is a set of questions asked by a financial professional to understand their clients' financial needs and provide personalized solutions.
  • The fact find process helps professionals understand clients' financial situation, goals, and aspirations, enabling tailored advice and solutions.
  • It helps assess clients' risk tolerance, identify gaps and opportunities, ensure compliance with regulations, and build trust and rapport.
  • In the context of mortgage applications, a mortgage fact find is conducted to assess a borrower's eligibility, affordability, and suitability for different mortgage options. It guides borrowers through the application process and ensures appropriate mortgage advice.

What is a Fact Find?

A fact find is a set of questions asked by a financial professional to learn about their clients' financial needs. It helps the professional understand what the client wants, so they can provide personalised solutions.

The Fact Find was introduced as part of "know your customer" regulations by the FCA in 2006. Also known as Fact-finding, it was introduced as a mandatory stage in the advice process for any adviser looking to provide recommendations on investment planning, retirement planning, and for some insurance planning.

If the activity was on the basis of non-advice, or execution only, then a fact find is not required.

Looking For Mortgage Advice?

If you're thinking about your mortgage options ahead of a remortgage, a big move, or even to borrow more?
We can help you find a mortgage specialist to offer you the very best advice. Complete our Sunny Fact Find form to provide us a bit more detail about your circumstances and we'll find the best-suited adviser for your needs.
Your appointed adviser will contact you to discuss how they can help, you decide how to proceed.

Why is a Fact Find important?

A fact find is important because it helps financial professionals understand their clients' financial needs. By asking questions and gathering information, professionals can provide personalised advice and recommendations that match their clients' goals and preferences. It builds trust, ensures compliance, and leads to better decision-making for better outcomes.  It's important for several reasons:

Understanding Client Needs:

The fact find process helps financial professionals gain a comprehensive understanding of their clients' financial situation, goals, and aspirations. This information is crucial for providing personalised advice and tailored solutions.

Bespoke Recommendations:

By collecting detailed information through a fact find, professionals can create customised financial plans that align with the specific needs and circumstances of their clients. This leads to more effective and relevant recommendations.

Risk Assessment:

Through a fact find, professionals can assess their clients' risk tolerance and investment preferences. This knowledge allows them to suggest suitable investment options that balance potential returns with the client's comfort level.

Identifying Gaps and Opportunities:

The fact find helps uncover any gaps or areas of improvement in a client's financial situation. It enables professionals to identify opportunities for maximising savings, optimising investments, or addressing any potential risks or vulnerabilities.

Compliance and Regulation:

Conducting a thorough fact find ensures compliance with legal and regulatory requirements. It helps professionals gather the necessary information to fulfill their obligations, such as assessing suitability and ensuring client protection.

Building Trust and Rapport:

The fact find process demonstrates a commitment to understanding clients' needs and concerns. By actively listening and showing empathy, financial professionals can build trust and establish strong relationships, leading to long-term client satisfaction and loyalty.

What is the Fact Find process?

The fact find process is just simply for the adviser to ask the clients questions and gather information about their finances, goals, and needs. They cover things like income, expenses, assets, debts, investment preferences, risk tolerance, and future plans. This information helps professionals give personalised advice and create custom solutions that match the client's unique situation.

Questions that may be asked during a fact find could include:

  • How comfortable are you with the possibility of your investments experiencing fluctuations in value?
  • Have you had any prior experience with investing and how did you handle market volatility?
  • How would you react if your investments experienced a significant drop in value?

What is a Fact Find in Financial Planning?

Financial planning refers to the services offered around investments, retirement, protection, and later-life needs. A Fact Find in financial planning will involve asking questions related to the needs of the clients with a view to making recommendations on these areas.

What is a Mortgage Fact Find?

A mortgage fact find is a process where a mortgage adviser or lender gathers information from a borrower to understand their financial circumstances and requirements regarding a mortgage loan. It involves asking specific questions to assess the borrower's eligibility, affordability, and suitability for different mortgage options. The mortgage fact find typically covers areas such as the borrower's income, employment status, credit history, existing debts, monthly expenses, desired loan amount, repayment preferences, and future plans. This information helps the adviser or lender assess the borrower's ability to repay the loan and recommend suitable mortgage products that align with their needs. The mortgage fact find process plays a crucial role in guiding borrowers through the mortgage application process and ensuring that they receive appropriate mortgage advice tailored to their individual situation.

What is the Sunny Avenue Fact Find?

At Sunny Avenue, our goal is to help clients find the best adviser for their needs. Our fact find tool is designed to collect information about our visitors to help us assess your needs and put you in contact with the right people to get you started on your journey. The Fact Find we offer is not an official Fact Find, your adviser will complete this process during their own meetings as they are the ones who are given advice. 

To get started with the Fact Find and your financial planning, complete the Sunny Fact Find.


Stuart is an expert in Property, Money, Banking & Finance, having worked in retail and investment banking for 10+ years before founding Sunny Avenue. Stuart has spent his career studying finance. He holds qualifications in financial studies, mortgage advice & practice, banking operations, dealing & financial markets, derivatives, securities & investments.

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Our website offers information about financial products such as investing, savings, equity release, mortgages, and insurance. None of the information on Sunny Avenue constitutes personal advice. Sunny Avenue does not offer any of these services directly and we only act as a directory service to connect you to the experts. If you require further information to proceed you will need to request advice, for example from the financial advisers listed. If you decide to invest, read the important investment notes provided first, decide how to proceed on your own basis, and remember that investments can go up and down in value, so you could get back less than you put in.

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