What Do Independent Financial Advisers Do?

You might be surprised to learn that the term “financial adviser” is fluid, in that not all financial advisers specialise in the same departments. It often occurs that financial advisers are actually limited to the areas that they specialise in. So what exactly do independent financial advisers specialise in? Let’s break it down.

Restricted Vs Independent

There are two main categories to be conscious of as far as financial advice goes – restricted and independent. Restricted financial advisers can only endorse specific product categories from one or a small number of suppliers, whereas independent financial advisers can make recommendations for investment goods across the retail spectrum.

Independent Financial Advisers

What Are They?

According to the Financial Conduct Authority (FCA), an independent financial adviser is an adviser or company that provides independent advice. They are able to take into account and make suggestions for all kinds of retail investment products that may meet your requirements and aims, as opposed to the limited advice other financial advisers can offer.

What Do They Do?

To achieve your goals, you may need the aid of a skilled expert with the required licences to assist in materialising your financial vision for the future, which is where an independent financial adviser comes in. A financial adviser is ultimately your financial planning companion.

The independent financial adviser you trust will guide you through the process from start to finish, discussing a variety of subjects, including how much money you should save, the types of accounts you should have, the types of insurance you should have and the list truly goes on.

In conjunction with offering financial advice, independent financial advisers ensure that you understand every aspect of what achieving your long-term objectives entails, likely including in-depth assistance with financial issues. These subjects may include budgeting and saving at the start of your relationship. As your knowledge grows, the independent financial adviser will help you grasp complex investment, insurance, and tax issues.

The services offered by independent financial advisers become more specified in alignment with your requirements. We hope this breakdown of what independent financial advisers do has offered some insightful guidance.


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