Independent Financial Advisers (IFAs) are professionals who provide financial advice to clients and recommend strategies and financial products in areas like wealth management, insurance, mortgages, loans, pensions and annuities, and investments.
They are referred to as independent because they are not tied to advising on or selling products from any particular company.
In the UK independent financial advisers are registered with and regulated by the financial watchdog, the Financial Services Authority (FSA) - and are bound to give the best advice when recommending products to clients.
Independent financial advisers can come in all shapes and sizes from established companies and corporations to individuals offering advice to clients. Independent financial advisers either charge their clients a fee for their advice or earn a commission from the products they sell, some get both.
Chartered Financial Planners are firms that have demonstrated their expertise through a series of rigorous qualifications. Chartered status is the highest level of recognition available to financial planning firms in the UK and acts as a quality mark of assurance for consumers and businesses seeking independent financial advice.
What Are The Benefits To You of Using an Independent Financial Adviser?
Everyone has to make financial decisions from time to time. Whether it is choosing the right mortgage, planning for your retirement or simply finding a loan, the sheer number of options can be daunting, never mind the jargon and sales patter that seems designed to confuse us all.
An Independent Financial Adviser can help you work through the options available to you and find the product that suits your individual needs. Their job is to know the marketplace and understand the pros and cons of the available options.
It is also their job to get to know you and your circumstances, so that we can give the best advice possible, tailored to your individual needs.
Moreover, because they're not tied to any particular company or provider they can search the whole of the market to find you the best deal, unlike most banks who can only advise on their own products. In short, IFA's provide tailored advice to help you achieve your goals and market knowledge to get you the best deals they possibly can.
Who uses Independent Financial Advisers?
In a word? Anybody. The need for sound, independent, financial advice is not limited to the rich and famous. Anyone who has ever considered buying a house, starting a pension or taking out a loan could benefit from some impartial, unbiased advice.
Author Resource:-
Gareth Flanagan is an independent financial adviserwith Principle First Financial Services one of the UK's few firms of Chartered Financial Planners. To discuss your options, or receive
financial advice visit us on-line.
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