Independent Financial Advisers

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: