Do you claim every year by default?

A letter that covers one claim ends when the claim is done. A letter that renews each year continues until one side gives notice, and if the notice period is long or the renewal date is easy to miss, you can find yourself committed to another year with an adviser you had decided to leave. Multi-year terms can be fair, and they can suit a business that wants continuity. What matters is that you chose the term knowingly.

The adviser health check asks you: "Does your contract renew automatically for future years?"

A clear term: one claim, one year, or a longer period you have agreed to. If the letter renews, a notice period that gives you time to decide, a reminder before the renewal date, and no charge for not renewing. A statement that you can decide each year whether to claim at all.

Renewal buried in the terms rather than stated in the letter. A notice period longer than three months. A minimum term that was not discussed. A fee that is due for a year in which you decide not to claim.

• The clause: multi-year and renewal terms
• The script: giving notice to end an engagement
• Red flag: automatic renewal clauses. Green flag: you can leave with your records
• Adviser health check