ASKING your financial adviser some tough questions could be the best New Year's resolution you make, according to a new Worcestershire firm.

Fee Based Advice, based at Hampton Lovett Business Park, Droitwich, has set up a free website to help investors access quality, impartial financial advice.

The website - fba.co.uk - contains listings of quality-checked member firms as well as tips and advice for people looking to source impartial advice on investments, mortgages, pensions and bonds.

Fee Based Advice - the only referral site set up and funded by independent financial advisers (IFAs) - has produced 20 tough questions that investors should ask their advisers in order to ensure they are getting truly independent advice on their finances.

"Many people don't understand how the industry is structured and how an adviser may look independent but is actually tied to a large institution and can only sell their products," said co-founder, David Lawson.

"Even more confusing is the advent of the 'multi-tied' agent who appears totally impartial, but is also committed to selling a limited range of financial products. Investors owe it to themselves to understand who is advising them and how those advisers are getting remunerated for that advice."

Mr Lawson said while the suggested questions - which can be found on the website - did not guarantee the successful selection of an IFA, they did help investors make more informed choices.

"They have been designed to empower people so that they have the confidence to ask the right questions of their IFA.

"All of the advisers listed on our website have signed an ethical undertaking and can pass the '20 questions' test. We are urging investors to take a look at these questions and run the ruler over their financial advisors as part of their New Year's resolution!"