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About Independent Financial Advisers (IFA)…

Whether you’re moving house, or wondering how best to invest a lump sum for the future, Independent Financial Advisers (IFA) are there to offer you a helping hand and prepare appropriate plans to match your financial goals.

When you meet with an Independent Financial Adviser they will ask detailed questions about your financial and personal circumstance and be able to make financial recommendations to fit your individual needs.

Our Independent Financial Advisers (IFA) have the tools to search for the most appropriate and suitable financial solutions and make things easy for you.

Why not use our Financial Adviser Search engine now?

Our Independent Financial Advisers (IFA) can:

• Find you the best mortgage or re-mortgage deal
• Help protect and grow your savings & investments in a tax efficient way
• Protect your family from the unexpected and the unwelcome
• Review and advise on your retirement plans
• Help you minimise your exposure to inheritance taxes

How are Independent Financial Advisers (IFA) paid?

It is a legal responsibility of an adviser to notify you in advance and in writing of any fees they may charge you.

If you are unclear what you are being charged, always ask. Take the time to understand the costs of the advice you are receiving.

There are three different ways in which an adviser may charge for their services and expertise:

• Fees
• Commission
• A Combination of Fees and Commission

Fees

Independent Financial Advisers (IFA) typically charge a flat hourly fee for their advice. Fees typically range from £75 to £250 per hour depending on your area and what kind of advice you need.

The advantage of fees-based advice is there's less incentive for advisers to bias their advice according to how much commission they'll make, as they should pay any commission earned back to you – either in the form of a rebate or a boost to any plan.

Commission

Independent Financial Advisers (IFA) paid commission may seem to be giving advice for free, but over the long run they tend to make more money this way than by charging a fee upfront.

However the commission route still has valuable merits. While there is a risk of adviser bias, the legal obligation to give good advice means advisers tend to tweak at the fringes rather than give downright poor recommendations.

The big advantage is that you won't need to hand over cash each time you decide to take the Advisers advice. The knock on effect of this is that you are probably more likely to feel comfortable about contacting the adviser again for additional help or advice.

Types of Independent Financial Advisers (IFA)

Advisers are legally divided into one of three types, an adviser will explain their status during your initial contact with them:

Tied Advisers

'Tied' means this type of Adviser can only advise and sell products from one bank or lender's own range. Advisers therefore tend to have a limited range of products to offer a customer and consequently these products may not be very competitively priced.

Multi-tied Advisers

This is a new type of adviser, and they are starting to be more common. They're allowed to sell and advise on products from a limited panel of firms.

Search for Independent Financial Advisers/ Independent Mortgage Brokers

These Advisers can advise and sell products from any provider right across the whole of the market and are obliged to give 'best advice'.

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