Defining the IFA (Independent Financial Advisor)
The Independent Financial Advisor (IFA) is a business professional who is trained to offer financial advice to their clients. These professionals specialise in areas such as the financial markets, personal finance, and financial planning. As the name suggests, these advisors work independently from major banks and financial institutions. By not being employed by a financial firm, these advisors are able to offer un-biased advice and provide you with the most competitive rates on financial products.
Why Choose an IFA?
As we have found out in recent years, the financial market is very volatile and unpredictable. Because of this, it is important to have previous knowledge before deciding how to invest your savings and earnings. Compare the Financial Markets would gladly help you find an IFA that has received all of the education and training, as well as real-world experience, that is needed to properly advise you on how to grow your wealth over the long term. Many advisors focus primarily on investments and can help plan you shape your portfolio as your financial needs change. In order to ensure that independent advisors are acting ethically and adhering to the professional qualifications created for the title, the Financial Services Authority registers and regulates all IFAs. The FSA makes sure that the core values of integrity, competence, confidentiality, transparency and accountability are strictly adhered to.
What Else Can They Help With?
Their scope of work is not only limited to the financial stock market. The Independent Financial Advisor deals with a range of financial products varying from retirement planning to mortgage protection and loans. Some are even certified to be specialising in legal matters. With a financial advisor by your side, you take a lot of the risk and uncertainty out of planning for your future.
In the UK, the IFA is a trained and certified professional which can ensure you are not jumping into any financial decisions without doing the appropriate research. Hiring a well-respected and reviewed advisor can mean the difference between slowly growing your portfolio and seeing impressive returns year after year.
