There are different types of financial advisors in Cardiff and if you are looking for financial advice you must understand the main differences between them.
Just as not all medical professionals are equal – there are paramedics, nurses, general practitioners, registrars, and consultants, for example – not all Cardiff financial advisors are equal! You can find the best financial adviser in Cardiff online.
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Types of Financial Advisors:
Tied advisers, usually work for a bank or an insurance company. They are only authorized to advise you on their own company's products;
Multi-tied advisers, who can offer advice from a limited set panel of companies;
Independent financial advisers (IFAs) who will offer you unbiased advice from the whole of the market.
The importance of independent financial advice
IFAs differ from dedicated and multi-dedicated advisors not only because they offer comprehensive market advice, but also because they do not represent the company – they act as representatives of their clients and their primary responsibility is to act in the best possible way.
Cardiff IFA should also offer customers the option of paying a fee, not a commission from the product provider.
After IFA conducts a detailed fact-finding with you so that it can fully understand your current financial situation and your financial needs and goals, it will research to find the most suitable financial product for you. . He will then present his recommendations to you at the next meeting.