Independent Financial Advisers

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.

As independent financial advisors, Allotts Financial Services can;

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