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Why use an Independent Financial Advisor IFA?

With thousands of financial products on the market, finding out which ones are best suited to your particular requirements can be bewildering to say the least. Not to mention time-consuming and potentially expensive if you make the wrong choice.

That's where an Independent Financial Advisor (IFA) really can make all the difference.

Within financial services there are generally two types of advisors:
  • Those who represent and act on behalf of a single company (Company Representatives or Tied Advisors)
  • Those who represent and act on behalf of customers (Independent Financial Advisors)
The major benefit of using an Independent Financial Advisor IFA for your financial planning is that they will firstly find the correct product for your particular needs - and then find the most appropriate product provider from the whole marketplace. This is unlike a Company Representative (such as someone within a bank or building society) who can only recommend their own company's products, no matter how uncompetitive they may be.

An IFA can be self employed or employed. They can be a sole proprietor or their firm can be a partnership or limited company.

For your further peace of mind, all Independent Financial Advisors are bound by their individual contract with the main regulator - the Financial Services Authority (FSA) - and must be fit and proper to trade. The FSA is the official regulator for life, investment and pensions products.

Whether advising on life assurance, pensions, savings, mortgages, or general insurance, Independent Financial Advice is exactly what it says:

"Independent and impartial"

What can an IFA advise on?

IFAs can advise you on a wide range of financial products such as:
  • Life Insurance
  • Personal and Company Pension Schemes
  • Regular Premium Savings
  • Investments Š Lump Sum and Regular Premium
  • Mortgages and Equity Release Schemes
  • Inheritance Tax Planning
  • General Insurance
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