What is Independent Financial Advice?
Firms providing financial advice can offer products from:
- The whole of the market
- A limited number of product providers
- A single product provider
Independent Financial Advice offers advice on financial products from the whole of the market and so they are not limited or tied to any particular provider. Independent Financial Advisers offer true independent advice and are obliged to offer their clients the option to pay a fee for advice as an alternative to commission.
Independent Financial Advisers are regulated by the Financial Conduct Authority (F.C.A.).
Individuals and businesses commonly consult Independent Financial Advisers on a wide range of financial planning matters including pensions and retirement planning, savings and investment, mortgages and protection. Some I.F.A. practices specialise in areas such as commercial finance (commercial finance is not regulated by the FCA), life time mortgages and specialist investment advice such as Buy to Let purchase.