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More than a third of people are in need of professional advice right now as scared borrowers batten down the hatches for the recession, when instead they should be actively seeking out the best adviser for their needs.

According to new research from Unbiased.co.uk, 35% of people have been hit already by ‘recession paralysis', admitting they won't address any major financial decisions until things improve. This is simply the wrong attitude – dealing with finances is the best way to get the best of them.

David Elms, chief executive of Unbiased.co.uk, says: "In boom times consumers have been more confident in making their own financial decisions, but in the current environment we are clearly seeing confidence levels dip. We are encouraged by the upsurge in people seeking advice, but concerned by those who admit they won't review their financial situation until the economy itself begins to improve, which may prove a damaging decision."

The website says people have to make sure they know what their adviser specialises in, and most importantly, whether they are a 'whole of market' adviser, meaning they have the ability to choose any financial product on the market. Many advisers are 'tied' to certain companies for insurance or investment products, which is fine but it is something to be aware of.

Also, if you are a self cert or self employed person, it is important to find out if your chosen adviser is well-versed in all that comes with giving specialist advice. Ask questions – having checked out their websites and any other literature, don't be afraid to ask questions about their service and qualifications, or to clarify anything you are unsure of and even request client references or testimonials to reassure yourself.

Elms continues: "The financial advice market has become hugely more professional over recent years, led by the thousands of advisers who have chosen to improve their knowledge and skills with additional specialist and generic advice qualifications. People should aim for their first visit to an adviser to be the start of a lifelong, mutually fruitful relationship, so doing a little homework and ensuring you get the best possible adviser match can really make a difference."

SOURCE: Unbiased.co.uk, 19/02/09

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