IFA – Independent Financial Advisor
An IFA – Independent Financial Adviser – is so called because they operate purely on your behalf. All Independent Financial Advisors have to place your best interest at the forefront of their activity and they are all acting under the aegis of the Financial Services Authority. They can advise you on all products within financial sectors so are perfect for working out which options are best for.
Any recommendations an Independent Financial Adviser makes must detail the strengths and weaknesses of the product, and why he thinks it is right for your situation. Before he comes to this decision the IFA must also come to a very full understanding of your financial position, and keep records of your situation to refer to. Once you have taken on the services of an IFA you may take it they are fully committed to getting you the best deal possible.
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