News

Sep 05

The Best Financial Advice always comes from an Independent Financial Adviser

Often consumers are confused about the different types of financial advice available. Here Geoff Charles, Managing Director of Bower Retirement Services, explains the different types of financial adviser and summarises with his recommendation on the best one to choose.

Geoff says, “There are three different types of financial adviser: independent, tied or multi-tied. Consumers should always question the status of their financial adviser because it will affect the depth of advice received.”

Independent financial advisers (IFAs) will advise on products from the whole of market.

Tied advisers can only sell products provided by the company to which they are tied.

Multi-tied advisers only offer products from companies with which they have a relationship which could be one company in each product area.

Geoff Charles summarises: “The second two obviously offer the consumer far less choice. The best, most in-depth advice for the consumer and their specific circumstances will always come from an IFA who is able to review the entire market.”

Bower Retirement Services is an FSA regulated independent financial advice company that offers specialist whole of market advice on equity release throughout the south of England. For more information e-mail info@brsequity.co.uk or call 0800 4118668. Bower Retirement Services offers a free, no obligation initial consultation to homeowners considering Equity Release.