There are various IFA firms giving different levels and styles of advice. Here are the main types. You can select whichever type is best for you but you should check their approach to advice and service before making your final decision.

Large execution only

Rarely is any advice available; if it is it will be for an added fee.

The basis of the execution only firm is to provide plenty of information for the customer to make all the decisions based upon his or her judgement. And also upon what the need for the particular product really is given the needs, taxation and risks involved.

Sometimes the sale is a low cost but the company takes no responsibility for whether the decision to buy is sensible or appropriate.

Product Based Advisers

These firms rely upon commissions earned to support their profit targets. A sufficient number of sales in a year is crucial to success.

General advice is sometimes given but this depends upon the commission that can be earned to support the advice.

Commissions come from the product premiums or a deduction from investments funds before the investment starts. Inevitably some clients will pay much more than others depending upon the size of the business they have even though they may need little actual advice.

Annual servicing is generally sparce as it rarely benefits the adviser.

Fee-Based Advisers

These firms are concerned with holistic advice based upon their clients needs. The fee ensures total impartiality because they are not incentivised to sell products whether or not they are appropriate.

They are paid by the client to give thorough detailed advice about their financial planning and needs with recommendations that are client based.

These advisers will usually arrange the products that are needed and, if commission is paid, this is set off against any fees for the advise.

You are in control this way and can usually expect a high level of annual reviews.

Our Clients Say Dominique & Dave Jan has been looking after our finances for the last fifteen years. She has always given us excellent advice, which has been very thorough and tailored to our needs. It great to have an IFA with so much knowledge and experience that we can trust