Someone authorised by the PIA and qualified by experience and examination to provide financial advice, who is not working for any single product provider company.
In theory these intermediates should look at the entire financial market before making a selection and offer unbiased advice and access to all suitable financial products. They sometimes still have access to special deals not on offer elsewhere because they may subscribe to a mortgage panel along with other advisers and brokers. Together they convince lenders to provide special packages in return for their continued custom. The only trouble is that they have to deliver a certain level of business over a year to remain on the panel so they may favour some products over others.
A financial adviser who is not employed by a particular company to market their products. They may be paid by commission, which in our view amounts to a conflict of interest, or else by agreed fee. We like to call these people Independent Financial Advisers (salespeople). See Personal Investment Authority and Mis-Selling.
IFAs are advisers who are independent and are not limited to advising on the products of a particular company. back
This is a qualified person or firm that can give people independent advice on life insurance and pensions and is not tied to a particular company.
Someone offering advice on investments, mortgages, pensions, and other financial planning issues with products from more than one company.
Independent financial advisers or IFAs offer you a full range of products from all the financial services companies on the market. IFAs must observe some key principles in carrying out their business. They must carry out a comprehensive review of the client's needs. This 'fact find', as it is sometimes called, seeks to put the adviser in a position of knowledge so that he will be able to offer 'best advice'. An independent financial adviser has to make clear to clients how he/she is being remunerated - the two main ways are either by receiving commission, or, alternatively, charging an hourly rate.
A qualified and regulated individual that is able to provide you with impartial advice on financial products.
An individual or a firm that is licensed by the financial watchdog, the Financial Services Authority, to carry out the business of advising on and selling financial products. Independent financial advisers are not committed to sell any single firm's products and are obliged to give "best advice" when recommending products to clients.
An authorised and qualified professional who can advise on all financial services and products available and tailor them to your needs.
A professional individual or firm that is authorised by the Financial Services Authority to provide financial advice and sell investors financial products.
IFAs are individuals or firms who provide independent advice on investments and financial products. They are required to make their recommendations in the light of all the financial products available on the basis of 'best advice' and are therefore regarded as impartial. To find details of your nearest IFA contact IFA Promotion on 0800 085 3251or visit www.unbiased.co.uk.
An authorised financial adviser who acts for the client rather than a product provider. An IFA may recommend and sell the financial products of any provider and is required to offer 'best advice' based on products available on the market as a whole. (See Tied Agent)
A financial adviser who is not employed by a particular company to market their products and is regulated by an investment watchdog.
Also referred to as an IFA, this is an Adviser authorised to recommend or sell the products of any insurance or investment firm.
A broker or other intermediary authorised to sell or advise on the policies of any life insurance company, as well as other financial products (e.g. unit trusts).
This person is only loyal to one and the good news is that it is you the consumer. Such a person is not obligated to sell one specific product form a single firm, but to advise you on what is out there on the whole market and sell you which product will work the best.
A regulated adviser who can recommend mortgages and other financial services.
An independent professional who will find the best mortgage deals on the market and advise which option to take, according to the individual circumstances of the buyer.
A person qualified - and regulated by the Financial Services Authority - to advise on financial products such as mortgages, insurance and investment vehicles.
A broker or other intermediary authorised to sell or advise on the policies offered by any insurance company, as well as other financial service providers.
An independent financial adviser is someone who can give you advice about a wide range of financial products. They must be authorised to give advice, and are regulated by the Personal Investment Authority. They must be distinguished from tied financial advisers, who can only give advice on investment products offered by a specific company.
An IFA is an independent financial adviser who searches through the financial services market for a product that suits your particular circumstances. IFAs are bound by law to provide impartial advice. They can advise you on which management company to choose as well as which fund. The IFA Promotion web site at www.ifap.org.uk can help you locate an IFA close to you.
Financial advisers give advice on financial products, including insurance and pensions and must be authorised by the Financial Services Authority. ‘Independent' financial advisers must give best advice on all products in the market. They could work for themselves or for firms that are financial advisers, mortgage brokers, stockbrokers or insurance brokers. Financial advice can also be given by tied agents.
Independent Financial Advisor or IFAs are professionals who offer unbiased advice on financial matters to their clients and recommend suitable financial products from the whole of the market.