OnlineIFA: Independent financial advice

If you are an OnlineIFA, this domain is open to offers!

OnlineIFA would recommend that the advice of an Independent Financial Adviser (IFA) is now pretty much essential as the world surrounding you and your family becomes more complicated.   Not only that but the number of products available for  investment, mortgages, pension funds,  life and health insurance protection  multiplies.  There are literally tens of thousands of options and good financial decisions have become far too complex for the lay person.  An online IFA( independent financial adviser) needs to understand you and your situation before they can help to guide you through your own personal finance labyrinth. This site seeks to provide you with more about independent financial advice and what you can expect from it.

What is an Independent Financial Adviser? Online IFA

IFAs are the only advisers able to select from all products in the market – making sure you get the most suitable products for your personal  and unique needs. IFAs are obliged to provide the advice most appropriate to your personal situation and the attitude you agree with your IFA towards risk.  When IFAs recommend products the IFA must consider the benefits, costs, flexibility, service levels and financial strength of the provider, as weighted by your requirements.

All IFAs are regulated by the FSA (Financial Services Authority) and are required to offer ‘suitable advice’ or they will be in big trouble with the FSA. This means they have to go through a fact finding process to gain a proper understanding of your individual situation and requirements before working with you to choose any financial planning products (they will record your information, so you can check your IFA they really have understood) and they will give you their final recommendations in writing as a permanent record.

How can I work with an Independent Financial Adviser?

You can engage and Independent Financial Adviser on a “by the job” basis – say to set up a pension plan or some life insurance, or you can become a formal Financial Planning client so that the IFA works with you in the long term to improve and enhance your financial independence as far is is possible – whether your path is smooth or troubled, and most especially if personal disasters such as death or disability hit you unexpectedly.

An IFAs mission could be considered to be to ensure that (as far as possible) you have the right amount of money available at the right time – even if the events triggering the needs are unexpected.   The longer you work with your IFA, the stronger your Financial Plan will become.

An Independent Financial Adviser can be a massive boon to your long term finances

The FSA has rather muddied the waters by bringing in “multi tied” advisers who can appear to the uninitiated to offer a wide choice of providers – but it is only a narrow section of the market, and cannot possibly offer you the best of all worlds – an IFA can.

Beware of advisers who PRETEND to be fully Independent Financial Advisers – ask for written confirmation that they are fully independent.

Online IFA suggests that you check out the IFA search facility at www.TotalInvestor.com