An IFA or Independent Financial Advisor is a financial advice specialist registered with the Financial Conduct Authority.
Diploma Qualified IFA’s offer whole of market advice and solutions for clients and differ from tied agents and Banks in that they can shop around to get the best offers.
IFA’s are experts in their field as they have to demonstrate consistently that they are up to date with the latest industry information and changes to legislation on such areas as Investments, Pensions, Life Assurance and Tax legislation.
IFA’s are also experts in protection and Insurance. Life Assurance, Critical Illness and Income Protection can be complex, so it is vital you take the correct financial advice to ensure you get the correct cover in place before its too late. Using an IFA usually means you pay less than paying for the product directly and our IFA’s don’t charge for the first consultation.
All financial advisors must be registered with the FCA (Financial Conduct Authority). This ensures they meet the right standards and you get more protection if you’re not happy with the service. For example, you can complain to the Financial Services Ombudsman and may be able to claim compensation if things go wrong.
If a financial advisor is not registered with the FCA, you can make a complaint to the FCA. This also means they have signed up to a code of ethics and have complete at least 35 hours of professional training each year.