An Independent Financial Adviser’s job (IFA) is to help you sort out your financial needs and recommend financial products and services to meet them. It is up to you whether you choose to use one. Some people find financial advisers helpful as they can explain the pros and cons of different financial products.
Financial advisers are usually paid by:
- commission, often a percentage taken out of the money you pay or invest, or
- an one-off fee, usually paid direct to the adviser, or
- a combination of commission and fee.
When you're deciding which adviser to use, ask how they expect to be paid. Even those advisers who are paid by fee often give the first half-hour of advice free, but check before you meet them.
Below is a list of websites you might find helpful. They give information about the role of an IFA, things you need to think about when choosing one and contact details once you have made your decision. Here is a short summary of the information each site contains.
Financial Services Authority
This site helps you understand what types of financial advice are available and what you need to think about if you want to choose a financial adviser.
FSA Guide to Financial Advice
The Institute of Financial Planning
This site looks at why you might want to use an IFA and suggests issues you may want to consider when making your choice. It also provides a list of IFAs’ contact details. It allows you to search by geographical area and by adviser specialism.
www.financialplanning.org.uk
IFA Promotion
This site allows you to search for an IFA specialising in different aspects of investments including saving for children and by postcode.
www.unbiased.co.uk
Help from other organisations
Use this link to see what specialised help can be provided by other organisations.
Disclaimer
It is our policy to obtain permission to link to other websites. We are not responsible for the content or reliability of the linked websites. Listing should not be taken as endorsement of any kind. We cannot guarantee that these links will work all of the time and we have no control over the availability of linked pages.
