FAQ's about Independent Financial advisers - Find an IFA

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Frequently Asked Questions

If you have a question about Independent Financial Advisers or our service take a look at our answers to the most frequently asked questions below....

1. What is an Independent Financial Adviser (IFA)?

An Independent Financial Adviser or IFA is a financial adviser who is not tied to any lender or provider. In short, when you ask them for financial advice they are able to look at the entire market place before advising you. Due to this, you can be sure that with an Independent Financial Adviser (IFA) you are getting completely independent financial advice based on the whole market place.

2. What kind of advice can I get from an Independent Financial Adviser (IFA)?

i) Mortgage Advice:

Whether you are looking for a first time buyer mortgage, a fixed rate mortgage, a tracker mortgage, a flexible mortgage, equity release, a remortgage or any other kind of Independent mortgage advice, An Independent Financial Adviser (IFA) will be able to give you the Independent mortgage advice you require to make sure you get the right mortgage for you and the best mortgage deal too.

ii) Insurance advice:

An Independent Financial Adviser (IFA) can give you Life Insurance advice, Home insurance advice, Mortgage Protection Insurance advice, Income Protection Insurance advice and lots more. If you are taking out Insurance an Independent Financial Adviser will be able to advise you on the most suitable type of insurance, the best insurance provider, the best Insurance policy and the best Insurance deal too

iii) Pension & Retirement Advice:

If you need a pension or if you already have a pension, but want to make sure it's right or top it up an Independent Financial Adviser (IFA) can give you the pension advice you need to get it sorted out. If you want some advice on how to invest now so you can enjoy your retirement an Independent Financial Adviser can talk you through the types of investments which are most suitable for you and also set those investments up for you

iv) Investment Advice:

If you're looking for short term investment advice, long term investment advice or any other type of investment advice an Independent Financial Adviser (IFA) can explore the whole market place on your behalf and make sure your money is invested in the right products and earning you as much as possible

v) Other Financial Advice:

There are many reasons to get some Independent financial advice and you might find we haven't mentioned it here, but that doesn't mean that an Independent Financial Adviser can't help. Speak to an Independent Financial Adviser and get the Independent Financial Advice you need

3: How can an Independent Financial Adviser help me?

i) : An Independent Financial Adviser is a trained professional with an in depth understanding of all financial products. As such, an Independent Financial Adviser can look at your finances and give you the independent financial advice you require to make sure that you are saving as much money as possible in terms of your financial commitments and earning as much money as possible in terms of your savings and investments, putting you in the best financial position as possible

ii) : An independent Financial Adviser can investigate the whole of the financial market place and through their expert knowledge and experience give you the independent financial advice you need to secure the right financial products and the very best deals. If you had to do this on your own think about how much time this would take and how much it would cost too. An independent Financial Adviser is an expert in finances so that you don't have to be.

iii ): Unless you have a very clear understanding of the financial product you are looking for, it's very easy to make mistakes. Unfortunately, when it comes to your finances mistakes can be very costly. An Independent Financial Adviser can help you avoid financial pitfalls saving you time, money and stress

4: How much will an Independent Financial Adviser charge me?

The cost of speaking to an Independent Financial Adviser will differ depending on your exact requirements and the way in which you choose for them to receive payment. However, if you choose to speak to an Independent Financial Adviser that you have found on IFACompare, they will be able to give you a quote for their services before you make any commitment.

5: How can I pay for an Independent Financial Adviser?

An independent Financial Adviser can offer you three ways in which to pay for the independent financial advice they give you:

i) Pay a fee:

You can opt to pay your chosen Independent Financial Adviser a fee. The advisor will specify the payment they would expect before you use their services, this gives you time to consider whether you want to proceed. In our experience many people believe that getting financial advice from an Independent Financial Adviser is more expensive then it is in reality.

ii) Commission:

In this scenario you will not pay your Independent Financial Adviser. Instead, the IFA will receive commission from the provider or lender they introduce you to. The lender/provider will give you written confirmation of how much commission your Independent Financial Adviser is receiving for the independent financial advice you have received

iii) A fee and commission:

You can choose to pay your Independent Financial Adviser a fee and allow them to take commission from the lender/provider they introduce you to. By doing this your Independent Financial Adviser will charge you a smaller fee for their independent financial advice.

6: Why should I compare Independent Financial Advisers?

i): You could just pick the first Independent Financial Adviser you find and hope you have made the right choice, but are you willing to take this gamble with your money?

ii): By comparing the Independent Financial Advisers in your area, you can make sure you get the right Independent Financial Adviser for you and therefore the best possible independent financial advice

iii): If you were to carry out in-depth research on the local Independent Financial Advisers in your area as we have, you will see that although the basis of what each Independent Financial Adviser does is the same, in reality there are some real differences in the way in which they operate.

iv): For example, consider an Independent Financial Adviser's working hours. If you work between 9am and 5pm each day it might cause you a problem if the Independent Financial Adviser you choose works the same hours. By the time you get home from work and are free to speak to your Independent Financial Adviser, they might not be available. You may prefer to find an Independent Financial Adviser who works evenings or weekends.

v): Another example, some Independent Financial Advisers are purely office-based while others visit their customers at home. If you don't drive or have children you may find that it is easier for your Independent Financial Adviser to come to you. However, you may feel better seeing your Independent Financial Adviser at their office and knowing exactly where they are based. It really is a personal choice.

vi): All of the small differences you will find in the Independent Financial Advisers in your area can add up to a big difference in the way in which they do business and a big difference in how easy it is to get the independent financial advice you want

vii): At IFACompare we have made it possible for you to see those differences and compare Independent Financial Advisers at a glance saving you time, money and the inconvenience of having to do this research for yourself. We don't charge you a penny for our services

7: Why should I use IFACompare to find an Independent Financial Adviser?

i) Our Independent Financial Advisers have been fully checked:

When it comes to your finances you cannot be too careful. Every Independent Financial Adviser featured on IFACompare has been fully checked to ensure that they hold all of the relevant qualifications and are regulated by the Financial Services Authority to give independent financial advice

ii) Our Independent Financial Advisers can give you objective advice and the best deals too:

The Independent Financial Advisers on IFACompare are not tied to any particular lender or provider meaning that they can review the whole market to make sure you get the most objective financial advice as well as the best deal possible

iii) Compare Independent Financial Advisers quickly and easily and get the right one for you:

Getting independent financial advice from an Independent Financial Adviser is a fantastic idea, but it's important that you find the right Independent Financial Adviser and not just opt for first one you find without doing some research. IFACompare enables you to compare the Independent Financial Advisers in your area so that you get the right one for you

iv) Our service is entirely free. In fact, by using IFACompare you will save money:

Not only do we save you the time and inconvenience involved in contacting each Independent Financial Adviser to compare their services, we save you the expense of having to contact them at all. If you choose to talk to a particular Independent Financial Adviser, we will get them to contact you

v) Don't take our word for it. Find out how customers rate each IFA:

We have gone to great lengths to ensure that only the UK's top IFAs are featured on IFACompare, but don't take our word for it. Each of the Independent Financial Advisers featured on IFACompare has an average rating given to them by customers. This feature is unique to this website and will allow you to see what the people who have had advice from an IFA really think. Also, if you want to read more you can even read full reviews on each Independent Financial Adviser

vi) Use our financial tools and make your life easy:

 The financial tools and guides featured on IFACompare can help you to answer many of the questions you may have and they are absolutely free to use

vii) Keep up to date with financial news:

You can make sure you are never out of the loop when it comes to financial news. We make sure it is available for you to read right here

viii) Read articles written by each Independent Financial Adviser:

You can make sure you are one step ahead of everyone else by reading the views and opinions of the Independent Financial Advisers featured on IFACompare

ix) Read articles written by people in your position, other customers:

Sometimes by listening to people who are in a similar position, you can benefit from their experience, that's why we ask our customers to tell us their story

x) Become a member for free:

Join in our forum so you can talk to people in your position and help other people with your experience. You can even win a fantastic prize if you write the best article as voted for by other customers in any given month!

 

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