How to choose an Independent Financial Adviser
Posted by siteadmin on Monday 24th of June 2019.
There are six key qualities to look for when selecting an Independent Financial Adviser. In addition to finding someone whom you trust and feel a natural rapport - it's important to ensure they also meet the following criteria.
- Truly independent: Make sure that your IFA is a free agent acting on no-one else’s behalf but you. Even restricted advisers who only advise on a select range of products are accountable and should offer objective advice.
- A whole of market outlook: Ensure your Adviser looks at the entire financial market when selecting a product for you, rather than select products or investments from specific providers.
- Specific specialisms: Some financial advisers are targeted and look at products within their specialism to select the best option for you. This lets you focus on a particular product type, if you already know the area you want to look at.
- Up to date qualifications: They need to hold an FCA recognised Diploma in financial planning, an FCA recognised Transitional Qualification, and the Qualification gap-fill. They must also hold a current and valid Statement of Professional Standing (SPS).
- Experienced and proven success: Make sure they have had a solid track record of experience and have been supervised, or have three years' unsupervised experience in Financial Planning.
- Correctly regulated: They have to be regulated by the FCA, which you can check by searching for them on the FCA register.
If you have any questions or queries regarding this article or wish to speak to one of our Advisers, as always please feel free to contact the office on 01905 731864 or email us at firstname.lastname@example.org