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A professional who provides financial services to customers is known as a financial adviser. The term ‘financial adviser’ is comprehensive and includes different professionals related to the finance industry such as investment advisers, brokers, accountants, insurance agents and financial planners. Depending upon the training they have had and the licenses they have secured, financial advisers provide different financial services to customers. A customer is also known as a ‘client’ in financial services industry. In the U.K, three main bodies award qualifications for financial advisers. Chartered Insurance Institute, the foremost of the three, offers professional financial services qualifications to all levels, from beginner to degree. The second is the IFS School of Finance, which offers alternative courses and qualifications in selected specialist areas including mortgages and equity release. The third is the Institute of Financial Planning, which offers the Certified Financial Planner qualification. Financial advisers in the U.K were required to clear a series of examinations and receive a Certificate in Financial Planning (which was formerly known as the Financial Planning Certificate) or the Certificate for Financial Advisers. Furthermore, they were required to be authorized by the Financial Services Authority, before they would be allowed to practice. This was replaced recently with a new standard of qualification classed as Diploma. Usually a diploma holder or higher qualified adviser will have ‘Dip FA’ or ‘Dip PFS’ after their name. In the United Kingdom, the most widely accepted ‘highest standard’ qualification for financial advisers is the title ‘Chartered Financial Planner’. Financial advisers may be classified as tied, restricted or independent. Tied advisers are allowed to recommend only the financial products marketed by the company they represent. They might be employed by that company or work for that company under a type of self-employment contract. Restricted advisers are similar to tied advisers, except that they represent a number of different companies. Also, they may choose not to recommend certain structures of investment or to not advise on the whole of the market, which makes them ‘restricted’. An Independent Financial Advisor offers advice on all financial products in the market. Also, the independent adviser must offer clients the choice of paying a fee for advice about products. Financial advisers in the U.K typically provide financial services such as; • Investments • Pensions & Self-Invested Plans • Mortgage Advice • Inheritance Tax • Discretionary Investment • Life Assurance Manchester being a popular city, a financial adviser Manchester offers is usually reliable and offers a proven track record. The financial adviser Manchester city can provide would typically be recognized and trusted. Similarly with Brighton, a financial adviser Brighton offers would be dependable. Any financial adviser Brighton can provide would typically have a proven track record and would be recognized from the authorities. Willi ams is author of this article. For further details about financial adviser manchester and financial adviser brighton please visit the website.
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