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Why use an IFA rather than a bank to get financial advice?

If you are looking for independent financial advice then it is best to seek out an Independent financial Advisor, rather than going to your local bank, because an IFA is unbiased and will be able to offer you a whole range of products which best suit your needs, and a bank will only be able to offer you a limited amount of products that they may have on offer at that time.

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An IFA will are obliged to give ‘the best advice’ available, whereas a bank normally only have restricted financial advisors, who have ‘restricted’ status which means that they can only give advice on a limited range of products.

Dealing with various complex financial products, can be very tricky so it’s best to get it right. Common areas where an IFA can help you make a decision are:

Endowments – talking about you’re your IFA to work through the best options is worthwhile. Also they can check to see if you are eligible to complain about one which has been mis-sold. If you are thinking about cashing in a sizeable endowment then the complexities could be enormous.

Annuities
– with recent changes being made to the auto-enroll pension system, it’s worth checking to make sure you are in the correct scheme.

Investments – this can involve assessing risk and trying to second-guess the markets. An IFA will enable you to pick out some good investment possibilities.

Mortgages – this is a huge financial transaction, make sure you contact a financial advisor who specialise in Mortgages like Enable.

Protection
– these include life assurance, critical illness and income protection. These products can be very complex so it is best to talk to an IFA.

If you need help with any financial decisions, and would like a company who have transparent fees and will give you unbiased help, then why not get in contact with our team of IFA’s at Enable Independent, IFA’s in Bishop’s Stortford.

Free Consultation

Call Enable FLP today on 01279 755 950 to book your FREE consultancy and to find out how we can make your money work better for you. Alternatively, send us a message by clicking here and one of our financial experts will call you back