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Financial Glossary
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> "Independent financial adviser" Definition |
 Independent financial adviser
A person qualified to give financial advice to clients on life assurance, pensions, funds, and other financial products, who is not tied to any one financial institution.A financial adviser may charge his clients a fee for his advice, and, depending on his contract with product providers, may also receive a commission on the products which the client buys.In theory, an IFA"s recommendations should be based on which company and products best suit the needs of the client, not on the level of commission he receives.In contrast, a company representative or tied agent is a financial adviser who is authorised to recommend only the products of the company he represents, so his advice is partial.Financial advisers have to make it clear to their clients whether they are independent or tied.
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Independent financial adviser - A person qualified to give financial advice to clients on life assurance, pensions, funds, and other financial products, who is not tied to any one financial institution.A financial adviser may charge his clients a fee for his advice, and, depending on his contract with product providers, may also receive a commission on the products which the client buys.In theory, an IFA"s recommendations should be based on which company and products best suit the needs of the client, not on the level of commission he receives.In contrast, a company representative or tied agent is a financial adviser who is authorised to recommend only the products of the company he represents, so his advice is partial.Financial advisers have to make it clear to their clients whether they are independent or tied.
Independent financial adviser : a person qualified to give financial advice to clients on life assurance, pensions, funds, and other financial products, who is not tied to any one financial institution.a financial adviser may charge his clients a fee for his advice, and, depending on his contract with product providers, may also receive a commission on the products which the client buys.in theory, an ifa"s recommendations should be based on which company and products best suit the needs of the client, not on the level of commission he receives.in contrast, a company representative or tied agent is a financial adviser who is authorised to recommend only the products of the company he represents, so his advice is partial.financial advisers have to make it clear to their clients whether they are independent or tied.
