The benefits of taking independent financial advice
Independent Financial Advisers (IFAs) are the only type of financial advisers who are able to select from all the products available in the marketplace - making sure you get the right product for your individual needs.
IFAs are bound to the Financial Services Authority rules, which obliges them to provide advice most suited to your personal requirements and your risk outlook. When financial products are recommended they must take into account the benefits provided, charges, flexibility, service and financial strength.
All IFAs must be authorised and regulated by the Financial Services Authority and are obliged to offer what is termed 'suitable advice'. This means that they have to gain a full understanding of your circumstances and requirements before helping to choose any financial products (they will record your information so you can double-check that they really have understood).
In addition, when recommending a product all financial advisers have to provide written reasons why they think that it is right for you - again to make sure that you are fully informed before committing yourself to anything.
Further guides and factsheets
- The meaning of independent financial advice
Includes information on how to find the right IFA, questions to ask and what to expect from your first meeting. - IFA qualifications on unbiased.co.uk
- An IFA can help your business make the right moves
- Free consultation voucher
Visit our new podcast area to download our ‘How to Find Independent Financial Advice’ podcast which explains the value of speaking to an IFA about your financial circumstances and also how to find one in your area.
Click here to download a FREE consultation voucher. Once you have downloaded a voucher please bring with you to your initial meeting your local IFA. You can find an IFA by searching our ‘Find an IFA’ database.
Find out what factors to be aware of when finding an IFA
