Are these 3 myths about financial experts holding you and your clients back?

A financial expert can play a key role in helping your clients navigate their divorce and achieve a settlement they’re satisfied with. They can also help you access the information and insights you need to achieve the best outcome for your clients.

However, several myths about financial experts may cause you and your divorcing clients to feel wary about seeking professional advice.

Read on to discover the truth behind three common misconceptions about working with a financial adviser during and after divorce.

1. “Financial experts are too expensive”

Getting divorced can be an expensive process. According to Mediate UK (24 April 2025), an uncontested divorce may cost between £600 and £5,000 in legal fees, while a contested divorce could exceed £30,000.

Moreover, research by Legal & General (2 April 2025) reveals that women experience a reduction of up to 50% in household income in the year following divorce.

As such, it’s no surprise that your divorcing female clients might be wary of adding another expense to their divorce bill.

However, they might be surprised by how cost-effective working with a financial expert can be.

At True Divorce Consultancy, I am committed to offering a fair and transparent fee structure with no hidden costs or conflicts of interest.

My firm is independent, which means I can look at the whole market and recommend solutions that fit your clients’ financial circumstances and budgets. In contrast, bank or tied advisers are typically limited to their employer’s products or services, which can increase costs.

Additionally, working with a financial expert could ensure that your divorcing clients avoid expensive mistakes, such as poor budgeting and mismanaging investments.

Read more: Why your divorcing clients can’t afford NOT to seek financial advice

2. “Trustworthy financial experts are hard to find”

During a divorce, your clients may feel uncertain and emotionally vulnerable. Consequently, they may lack confidence in their decision-making capabilities.

This could make the task of finding a reliable financial expert seem overwhelming, especially if your clients believe in the myth that most financial professionals are untrustworthy.

Unfortunately, this is a common misconception. The latest Advice Gap report (25 June 2025) from The Lang Cat shows that lack of trust in advisers and value perception are the biggest barriers to individuals seeking professional financial advice in the UK – 31% and 33% respectively.

In fact, it’s relatively quick and easy for you and your clients to research financial experts and advice firms online. Here are a few simple ways to narrow down the search:

• Check the Financial Conduct Authority (FCA) register (22 July 2025) – Professionals who are FCA registered are authorised and regulated to provide specific financial services in the UK. They must adhere to strict rules and standards that are designed to protect consumers. You and your clients might find it reassuring to view my listing on the FCA register.
• Prioritise Chartered professionals – Chartered status is considered the UK gold standard in financial planning. It means the individual has met stringent criteria for knowledge, skills, and ethical conduct.
• Search client reviews and testimonials – Look for client stories on the financial expert’s website. Also, research Google and industry-specific review sites, such as the VouchedFor
• Look for industry awards – These demonstrate a commitment to excellence and providing high-quality support. Examples include the Professional Adviser and Women in Finance awards.

You and your clients can learn more about me and the tailored financial guidance I offer throughout the divorce process on the True Divorce Consultancy website. My second company, True Financial Design, provides regulated financial advice post-settlement and more general financial planning. By keeping these services separate, I ensure you receive specialised support when and where you need it.

Read more: 5 green flags to look for when seeking a financial expert to work with

3. “All financial advisers are the same”

You might have clients who have taken professional financial advice before and found it unhelpful. This could prevent them from seeking the support they need during and after their divorce.

However, all financial advisers are certainly not the same. Indeed, finding a professional who is a good fit for your clients’ circumstances, needs, and personality is crucial for achieving the best possible outcomes.

I am one of the few female financial planners in the UK who specialises in working with women, especially those pre- and post-divorce or widowed. My experience growing up with divorced parents means that I understand the financial challenges your female divorcing clients may face.

My two companies, True Divorce Consultancy and True Financial Design, offer a unique process that is designed to give your clients clarity and confidence in their financial futures.

This involves using sophisticated cashflow modelling at every stage of planning to help your clients understand their current and future financial needs. As a result, your divorcing clients will have the knowledge and confidence to provide the insights you need to help them achieve a fair settlement.

Read more: 4 compelling reasons why divorce solicitors need to work with a financial expert

Get in touch

If you’d like to know more about how we could work together to support your female divorcing clients, please get in touch by email at lottie@truefinancialdesign.co.uk or call 03300 889138.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

All information is correct at the time of writing and is subject to change in the future.

The Financial Conduct Authority does not regulate cashflow planning.

Approved by 2plan wealth management Ltd 5/11/25.