what do independent financial advisers do

What is the Role of an Independent Financial Adviser?



Posted on: 8th October 2021

When you are engaging with independent financial advisers Cheshire you are mainly looking for specialist advice on how to manage your money. However, there is a lot more to this relationship than simply pointing you in some directions that will benefit you. So, what do independent financial advisers do?

Financial advisers research the entire marketplace to recommend the most appropriate products and services available to you and your specific requirements. The main job of an IFA is to make you aware of the best products and how they meet your needs.

They bring a lot of specialities to the table to best provide a service tailored to you, and some may specialise in certain products such as pension advice Manchester, mortgages and investment advice to private clients – as well as saving plans and insurance as some services.

Of course, to be able to specialise in these specific services, they will require professional qualifications and strict adherence to rules set within the financial industry. As a financial adviser, or financial planner or wealth manager as they may be known, their job is to help you make informed decisions about your finances and directions.

The Difference

There are two types of advisers you may come into contact with – independent and restricted.

Naturally, a restricted adviser only offer limited advice that focuses on particular products or ones that they are partnered with. These may not always be the best products for you personally and will be more beneficial towards the product in securing you.

Independent research and consider all investment products and providers on the market to secure one that meets your specific needs, giving unbiased and unrestricted advice on how best to reinforce your financial movements going forward. With that in mind, the independent works to keep your finances in check by giving you knowledge of how best to manoeuvre.

What Help is Available

What do independent financial advisers do? An IFA can help in many different areas depending on your requirements of their service. Independents mostly operate with a combination of home visits and office settings and a sit down to provide an in-depth review of the financial landscape of the client.

By figuring out where the client stands and where the future aim is, an IFA can analyse all information and prepare a plan with the client that meets the requirements. By researching the marketplace, an adviser will complete risk analysis and provide clients with information on both new and existing products and services open to them, designing a strategy and assisting with information for clients to make the most logical choice open to them.

Communication and response is key to having solid independent financial advisers Manchester, and the team at Haven IFA are ready to discuss where you are and where you aim to be in regards to your financial future.