At Visit website of sounding facetious, an unbiased financial adviser is someone who gives independent suggestions about financial matters. Actually, stating the rather obvious in this manner put an important pressure on the three vital components of the independent financial adviser's role.
Independent
The independence of the adviser is critical. When an independent financial adviser is consulted, you should know that he or she does not have any vested interest and can not be influenced at all by selling an individual company's products. Independence implies that the client can expect the adviser to do something completely impartially, entirely in the client's needs, and not because there is a recognised dependent relationship between your adviser and one particular supplier. The importance of this independence cannot be stressed enough. The adviser needs to be licensed by and is regulated by the Financial Services Authority, and independence is something that is central to such recognition. The client's faith and trust in the adviser stems largely from the latter's independence.
Financial
An unbiased financial adviser needs to have expert professional understanding of a huge range of financial products and services. Since it has one of the most highly developed financial services industries on earth, the sheer range of products available on the British market means that knowledge and professionalism must be of the highest order.
As a result of sheer selection of subjects with which an unbiased financial adviser should be familiar, there exists a correspondingly wide variety of qualifications available to individual advisers. For instance, the adviser might have professional qualifications awarded by the Chartered Financial Analysts (CFA) Institute, the Chartered Insurance Institute (CII), the Institute of Financial Planning (IFP), the Personal Finance Society (PFS), the Pensions Management Institute (PMI, the Securities and Investment Institute (SII), or others. Above all, however, the adviser knows that his is a constantly changing market, with services and services emerging at all times. He or she can make it her or his business to stay completely up to date with these trends.
Adviser
As an adviser, the third and vital element of the independent financial adviser's role harks back again to the first of their qualities, independence. The financial advice given must be "best advice" when recommending any service or product. That is to say, the advice should be the advice that is genuinely in the client's best interest. It is as if the adviser had stepped into the client's shoes and was giving advice entirely from the client's perspective. In this manner, the client could be assured that the advice is actually independent, objective and impartial advice that may fulfill the interests that your client himself or herself has identified.
Summary
It is surprising just how much meaning could be packed in to the three words that describe the role of the independent financial adviser. But because the above brief, thumb-nail sketchy has shown, each of the three words encapsulates a fundamental and vital part of this professional's job. Each word describes the obligations that the adviser has towards all of his clients, in order that the clients, for his or her part, can rest absolutely assured they receive genuinely independent, well-informed and expert financial advice that will serve their own best interests.