What a second opinion should actually challenge

A useful second opinion is slightly uncomfortable. If the note only repeats the proposing firm’s language, you have paid for reassurance, not scrutiny.

Charges in pounds, not basis points alone

Ask for the annual cost in pounds on your actual balance, including platform, fund, and adviser fees. A 1.5% all-in charge on £400,000 is £6,000 a year — a figure that concentrates the mind more than a tidy percentage.

Concentration and single-stock comfort

Portfolios heavy in employer shares or a single sector can look diversified on a pie chart while remaining fragile. A second opinion should name that concentration and test what a 40% fall in that holding would do to your plan.

Risk questionnaires versus behaviour

If you scored “adventurous” on a form but sold everything in March 2020, the questionnaire is incomplete. Good challenge work compares the proposed volatility with how you have actually behaved in past downturns.

Bring the proposal PDF and recent valuations. We will write what we see — including where the original recommendation is already sound.