Why an IFA?

When you choose an Independent Financial Adviser (IFA) the law guarantees you:

• A member of a recognised body
  Every IFA must be registered with the Financial Services Authority (FSA) or a recognised professional body, such as the Law Society or the Institute of Chartered Accountants.
• A trained IFA
  IFAs must pass examinations designed to test both their financial knowledge and capabilities before advising on financial matters.
• Diligent and competent advice
  Before giving any financial advice, an IFA must first conduct a proper assessment of your financial circumstances.
• Impartial advice
  Before making recommendations, an IFA must look at the financial products and services offered by a wide range of companies.
• Suitable recommendations
  All recommendations made by an IFA must suit your financial circumstances and needs.
• A protected relationship
  No fee is to be paid until you have read and signed the terms of business letter, which is provided by your IFA. This letter includes details of the IFA’s remuneration structure, which must meet your approval.
• Complete confidentiality
  All information, with regard to your finances, is considered confidential under the Data Protection Act. So your financial, and personal, information can only be accessed by authorised persons.
• A procedure for complaints
  If you wish to complain, proper procedures are in place for you to follow. If necessary, a complaint can be put before the Ombudsman.

This combination of guarantees, protected by law, is only relevant and available when you seek advice from an IFA.