Many people mistakenly believe that all financial advice service is created equally, but this isn’t always the case.
While all advisors must be qualified to provide guidance, some professionals are restricted in the products they can recommend. Due to the way they operate, they can only advise their clients use specific protective policies, or adopt specific investment strategies.
Independent financial advisors (IFAs) are the opposite. Instead, they can offer an impartial review of a person’s financial circumstances, and tailor portfolio and policy choices to match the individual’s needs and ambitions.
An IFA can supply advice on all available financial products, and is legally bound to be unbiased. As a result, clients can benefit from a wider range of options. As IFAs are not connected directly with specific products or companies, they can deliver personalised advice. This means they can create custom strategies to help clients achieve their financial aims that consider their personal risk tolerance, current finances and cash flow needs.
To understand their needs and goals, IFAs usually have close working relationships with their clients that are based on trust. As a result, as a person’s financial requirements or ambitions change over time, IFAs are always on hand to help them adjust their plans when necessary.
IFAs, like wealth managers, provide holistic financial advice and are experts in a wide range of areas, from portfolio management and protection to estate and retirement planning.
If you are seeking to build a bond with an expert advisor, we can help. For independent financial advice in Chester and Shropshire, reach out to us now at Hartey Wealth Management.
