Independent Financial Advisers

As independent financial advisors, Allotts Financial Services are ideal to assist you in making the right decisions that could meet your needs and objectives.

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What is Independent Financial Advice?

There are two different types of financial advisors – ‘independent’ and ‘restricted’ – and this can affect the advice you are given. When you get advice about investing your money, you need to know which sort of advice you are receiving.

Some advisors, such as Allotts Financial Services, can offer the full range of financial products and providers available, and are called ‘independent advisors’. But many advisors only offer ‘restricted advice’ and will focus on a limited selection of products and/or providers.

As independent financial advisors, Allotts Financial Services can;

  • provide independent advice and consider and recommend all types of retail investment products that could meet your needs and objectives.
  • consider products from all firms across the market, and have to give unbiased and unrestricted advice.

Restricted advisors

A restricted advisor or firm can only recommend certain products, product providers, or both. Restricted advisors and firms cannot describe the advice they offer as 'independent'.

Key differences between independent and restricted advice:

 
Independent
advice
Restricted
advice
Considers all retail investment products
Yes
No
Focuses on a particular market
No
Yes
Considers products only from certain providers
No
Yes
Has to explain to you the type of advice they offer
Yes
Yes
Can use ‘independent’ to describe the advice they offer
Yes
No
Incentivised to recommend one product over another
No
No

 

Require further information?

Call IFA Doncaster 01302 349218 or IFA Rotherham 01709 828400.

Independent Financial Advisers

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Monday to Friday 9am - 5pm
excluding Bank Holidays

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