For quality advice that checks all options - Find an IFA
Are you a first time buyer, looking to make the leap from paying rent to owning your own property? Then find an IFA.
Perhaps you have a nest egg and need advice on funds and other investment options. Or you are looking to secure the future of yourself and your loved ones, either through family protection and insurances, or some prudent pension planning.
No matter what your concern, when it comes to choosing between a tied adviser and an independent financial adviser (IFA), the experts agree that there is no contest. You will receive better-informed, better quality, unbiased financial advice if you find an IFA.
Get independent financial advice from our friendly advisers or ring freephone 0800 678 5929 now.
IFA Advice on Mortgages
For mortgages, a recent report on the importance of an IFA’s independent status was published by the Association of Mortgage Intermediaries (IMA). The key finding in the report what that by using the services of an independent financial adviser from the IFA UK register, you will save, on average, £962 per year on your mortgage repayments.
When you find an IFA you have access to thousands of mortgage products available in the UK. A typical ‘tied’ adviser employed by a bank or building society may have access to no more than 20 products, the IMA report found. The IMA also used 10 mortgage scenarios to compare deals available on the basis of unbiased financial advice from an IFA. In 9 out of the 10 scenarios covered, the adviser from the IFA UK register achieved a better deal than tied advisers at the high street lenders. The message was clear – find an IFA !
IFA Advice on Pensions and Annuities
For pensions, the same principle applies. If you find an IFA, you will receive unbiased financial advice on, for example, purchasing an annuity using your ‘Open Market Option’.
This is because you will find IFA advice is not limited to a small number of products, or one product provider or lender. An IFA gives unbiased financial advice taking a ‘whole of market’ approach, which means that he or she can range over all the pensions products on the market to locate the best pensions annuity for you.
Pensions providers are sometimes criticised for not providing clear information to their clients regarding the options available for purchasing a pensions annuity. For smokers, or for those retiring in less than perfect health, for example, purchasing an enhanced annuity can result in a significantly greater monthly pensions income, as their life expectancy may be less than a fully healthy person of the same age. Again, it makes sense to find an IFA – only by taking independent financial advice you are sure to be made aware of all the options available.
IFA Advice on Personal Insurance
When purchasing insurance, unbiased financial advice from an adviser listed on the IFA UK register will locate the best product for you. More importantly, if you find an IFA you will have guidance on the ‘small print’ of your insurance contract and assistance in making a proper application, which will reduce the likelihood of problems, in the event of a claim.
Failure to provide full and accurate information in an insurance application is one of the main reasons for rejected claims. Insurers have repeatedly said they find IFA input is indispensable for customers inexperienced in navigating their way through the sometimes complex paperwork that is required. Working with an independent financial adviser will ensure you get it right first time, and increase your peace of mind once your policy is in place. Again the lesson is clear – find an IFA.
IFA Advice on investments
If you are reviewing your funds investments or even considering additional ones, the decision to find an IFA pays dividends every time. Again, the whole of market option means that the unbiased financial advice you receive should result in the correct investment choices for you.
Principle First are one of the UK’s leading IFAs. Contact us for top quality independent financial advice or ring freephone 0800 678 5929 now.
