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Types of Adviser [home] FAQ for advisers click here
Do read these, as everyone's understanding of these different types of adviser varies, and as this is my site, my definitions rule!!!
Independent Financial Adviser An IFA may deal with Financial Planning, Investments, Pensions, Mortgages, Life Insurance etc etc. They must offer you the option of paying a fee, though most people to prefer to allow the IFA to keep the commission. Some specialise, some deal with all sorts of clients.
MORTGAGE ADVISERS May be IFAs or not - some will be agents for one insurance company or one lender. They are required to tell you which, though it is likely to be less than clear.
MULTI TIED ADVISERS These have access to products from up to 10 providers.
INSURANCE ADVISERS These are the people who arrange car insurance, home insurance, business insurance etc. They do not sell pensions, investments, life insurance etc unless they are also offering these services under a different authorisation.
HEALTH INSURANCE These offer (usually) Private Medical Insurance and may be IFAs, Multi-Tied or Company Agents
COMPANY AGENT A financial adviser representing a particular company - for example, the Co-operative or Legal & General.
WILL WRITERS These will vary from solicitors who are interested in writing Wills to professional Will Writers to unregulated individuals who have bought some software. We would recommend mainly sticking to those who are Regulated - by the Law Society, The Society of Will Writers, the Institute of Professional Will Writers or members of the Society of Tax and Estate Planning Practitioners. There are many others some of which are really only sales promotion organisations! We are open to being convinced to add other societies to our "approved" list!
ESTATE AGENTS Everyone knows what these are, but we include anyone who markets homes.
PERSONAL TAXATION These will be accountants and similar advisers who will help in the preparation and advise on personal tax.
BUSINESS TAXATION As above, for business.
Terms & Conditions - click here. |