About IFAs

Independent Financial Adviser or IFAs are professionals who offer unbiased advice on financial matters to their clients and recommend suitable financial products from the whole of the UK financial market place.

The term "Independent Financial Adviser" was developed to describe advisers working independently for their clients rather than representing a specific product providing company.

The UK financial services industry was de-polarised in 2005. There are now four main classes of financial adviser:

• Tied advisors (working for one financial institution),

• Multi-tied advisors (paid by more than one financial institution),

• Whole of market advisers (working with all companies but only on a commission basis)

• Independent financial advisers. Independent financial advisers must offer their clients the option to pay for advice by fee rather than commission.

LighthouseXpress is home to over 300 Independent Financial Advice companies who will conduct a detailed survey of their client's financial position, preferences and objectives; this is sometimes known as a 'factfind'. Advice will then be given on appropriate actions required to meet the client's objectives; and if necessary recommend a suitable financial product to match the client's needs.