Financial adviser definition
A financial adviser is a person whose job is to provide financial advice to clients. They should provide specialist advice on how the client should manage their money and assets, and should therefore have a strong understanding of investments, savings, and wealth management. They may offer a range of services, including investment management and estate planning.
Financial advisers can be independent, sometimes known as an Independent Financial Adviser (IFA), or restricted. IFAs are able to consider all retail financial products as they consider their clients’ needs and must give unbiased and unrestricted advice. Restricted advisers offer a more limited service because they will focus on a range of products from a few, or even just one, provider of financial products. All financial advisers in the UK are regulated by the Financial Conduct Authority (FCA).