Financial Advisors are experts in all matters of finance who offer their clients advice on financial matters and recommend suitable financial products to them. Generally speaking there are two main types of financial advisors tied advisors who work on behalf on one financial company or independent financial advisors (IFAs) who can offer their clients impartial and unbiased advise and recommend financial products from across the whole market.
These days most individuals and companies seek the advice of an IFA as they are regulated by the Financial Services Authority and therefore must meet strict requirements and have certain qualifications to practice as a financial advisor. People turn to financial advisors for help and advice on many different financial matters, including pensions, insurance, mortgages, savings, ISAs and investments, as well as some taxation and legal issues, such as inheritance tax.
There are many benefits to seeking financial advice before you take out a new investment, mortgage, pension, etc, because IFAs can really help you to understand and priorities your financial needs, find the best deal for you, save you tax, help with retirement or education fees planning, and help you invest your money wisely. Financial advisors can also help you to plan your finances in case illness means you cannot work, and help ensure your family could cope financially after your death.
Any individual who needs help investing or saving their money, advice on retirement planning, and assistance with getting a mortgage or loan can benefit from the services offered by an independent financial advisor, which means at one time or another everyone could use a financial advisor. Companies can also make use of financial advisors to help them plan investments, expansions, and other financial issues accordingly.
If you're looking for a financial adviser in your area then use our listings section, but please remember than an independent financial adviser should hold a Financial Planning Certificate as a minimum, and preferably an Advanced Financial Planning Certificate. It is also worth checking whether the financial advisor you choose is a member of the Associate of the Society of Financial advisors (ASFA) or holds a Certified Financial Planner (CFP) certificate.