Choosing an Independent Financial Advisor (IFA)

If you intend to invest substantial amounts of money it is usually wise to seek the advice of an Independent Financial Advisor beforehand.

An Independent Financial Advisor (IFA) is a professional who will be able to advise you on all financial matters and who is not employed by an institution selling financial services.

An Independent Financial Advisor can inform and sell products for a broad range of investment and insurance companies. In general the IFA is paid a commission when they sell a product but in some cases they charge a fee to their clients instead.

An Independent Financial Advisor can select from all the products available in the marketplace, so you get the product that best matches you particular needs. They are obliged to abide by FSA (Financial Services Authority) regulations which set out to ensure that the customer receives the most suitable product.

Factors such as flexibility, service and financial strength are expected to be taken into consideration when offering what is termed ‘suitable advice’ and IFA are closely monitored.