Fact Find
Structured data-collection interview before recommending advice.
A fact find is the structured discovery process by which a UK financial adviser captures the personal, financial, attitudinal and objective information needed to give compliant, suitable advice. It is the foundational document underpinning every regulated piece of UK financial advice.
What a fact find captures
A typical UK adviser fact find covers seven domains:
- Personal and family circumstances - age, dependants, employment, health.
- Income and expenditure - net pay, recurring outgoings, surplus capacity.
- Assets and liabilities - property, pensions, investments, debts.
- Existing protection and insurance - life, critical illness, income protection.
- Objectives and timeframe - retirement, education, legacy, liquidity.
- Attitude to risk and capacity for loss - typically captured via a validated risk-profiling tool.
- Knowledge and experience with relevant investment types.
Why the fact find matters for marketing
Fact-find quality is the single biggest determinant of MQL-to-client conversion. Lead-generation campaigns that pass the fact-find work to the adviser without partial pre-qualification show drop-off rates of 60-80% during the first call. Campaigns that capture three to five fact-find fields pre-call (employment, age band, asset bracket, primary objective) typically lift conversion 1.4-1.9x.
Compliance role of the fact find
Under FCA COBS 9 (Suitability), the fact find is the auditable record of why advice was suitable. Marketing teams should never bypass it - lead forms can capture indicative data, but the regulated fact find must still occur before any advice is given.
Related terms
- Suitability
- KYC (Know Your Customer)
- COBS
- MQL