Find Good Independent Advisor

There are essentially two forms of advisors within the financial services industry: Independent and Restricted. A Restricted Financial Advisor is a phrase employed for companies that have some type of restriction on the information they provide.

Basically, the difference is a Limited company would only provide guidance on a choice of financial products, whereas an unaffiliated company examines all of the marketplaces. You can choose Online IFA to know more about the online financial advisor.

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According to regulatory guidelines, and advisory firm 'must disclose in writing, in good time before the provision of its services in respect of a personal recommendation or basic advice in relation to a retail investment product, whether its advice will be: independent advice; or restricted advice'.

Essentially this means that a firm's prospective clients must be informed whether the financial advisory firm they are dealing with is Restricted or Independent.

 Despite this, a google search for Restricted Financial Advisors yields very few Advisors that clearly refer to themselves as Restricted, as firms are often reluctant to admit to their Restricted status in marketing materials.

Due to recent regulatory changes, there is currently a great deal of debate about Independent and Restricted Advisors and consequently, lots of information is readily available online.

However, any decision a prospective client makes should always be dependent on their individual financial circumstances.