IFA Promotion website and free guide explain advice changes

Confidentially search for details of independent financial advisers close to where you live or work from around 9,000 IFA locations UK-wide.

§         Call 0800 085 3250 or visit www.unbiased.co.uk/beadvised to find out more

§         Confusion is “biggest consumer risk” in new regime, says IFA Promotion   

From today (1^st December), the Financial Services Authority has given financial advisers six months to decide whether they will offer their customers tied, multi-tied or independent advice.  To help combat confusion, IFA Promotion has produced a dedicated website and free guide which explain the consumer implications of these changes, and the continued benefits of independent financial advice.

David Elms, Chief Executive of IFA Promotion, said, "From now on consumers will receive clearer up-front information, particularly on the cost of the advice they will receive and how it’s paid for.  However, introducing a new breed of adviser is bound to cause confusion, and we’re urging people to study the types of advice available, so that they can make an informed decision about which should be best for their financial future."

IFA Promotion’s free guide to financial advice offers readers information on:

• Independent financial advisers, tied advisers and multi tied advisers – how they differ and the type of service each offers
• Questions to ask to ensure you get the sort of advice you require, and a decision tree to help identify which advice is right for you
• Payment options for financial advice
• Information on advanced adviser qualifications
• Benefits of independent financial advice and how to find a local IFA

You can also find all this information plus an interactive version of the decision tree and an online find an IFA search facility at www.unbiased.co.uk/beadvised.

-ends-

For further information please contact:

David Elms                           Liz Willder / Richard Winder / Chloe Merriman

Chief Executive                     Lansons Communications

IFA Promotion                       Tel: 020 7490 8828 / lizw@lansons.com

Tel: 020 7833 3131

For expert comment or case studies from over 170 media-friendly IFAs, journalists should call IFA Promotion’s Media Services hotline on 020 7294 3682 or search online in ‘Media Services’ at www.unbiased.co.uk

1.  Independent Financial Adviser Promotion

IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public.  It represents over 10,000 firms of independent financial advisers across the UK and is sponsored by 28 leading financial institutions. In 2003, over 330,000 consumers and businesses used IFA Promotion to find local independent financial advice.

IFA Promotion believes Independent financial advice should be:

·        Affordable.  The option to take independent financial advice should be available, by right, to all - not just the wealthiest in society.

·        Convenient.  IFAs should be available in the location of the consumer’s choice, wherever they live in the UK.

·        Transparent.  It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.

2.      Independent Financial Adviser Promotion’s sponsors

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