What is an Independent Financial Advisor?
An Independent Financial Advisor (IFA) provides independent financial advice to clients. In an Independent Financial Advisory Firm, they rarely carry in-house products (products created internally). Instead, the range of products and services are selected from a number of existing service providers.
These processes allow advisors to provide independent advisory.
What exactly is an Independent Financial Advisor?
Similar to Financial Advisors or Wealth Managers, Independent Financial Advisors provide financial advice to clients in financial planning, investment planning, insurance planning and other wealth management solutions.
The difference for Independent Financial Advisors is the range of products and services are selected and recommended only from 3rd party or external providers. This concept allows Independent Financial Advisors to provide independent and possibly less bias financial advice to clients.
United Kingdom is first country to adopt the official term of “Independent Financial Adviser”. In 1988, advisors are required to be either tied to a single provider or be an independent practitioner. Independent practitioners are known as IFAs or Independent Financial Advisors. This is regulated by the Financial Conduct Authority (FCA).
What are the rewards of being an Independent Financial Advisors?
As an Independent Financial Advisor, you get to pick up valuable financial and wealth management knowledge and a rewarding career sharing independent financial advice to clients.
As you grow your client base and portfolio, your income increase accordingly. In addition, you get to plan and execute your own client and portfolio management strategy, which could free up a lot of time. In other words, not only can you be more efficient and effective at your work, you are able to plan your own working schedule, giving you a very flexible career and lifestyle.
Read More: 5 Reasons why being a Wealth Manager is one of the Best Job to be in
What Independent Financial Advisors Say?
“ It is a wonderful career to be in: The learning journey, growing with clients, being there for their wedding, their first child, first property, their loved one who just passed away. All the major events that I had been part of, I had a major role to play financially for them. My responsibility grows with their life. My income is always growing too, but it had never been a thought after I started my journey as an Independent Financial Advisor. “ Independent Financial Advisor
- When Should You Join Independent Financial Advisory?
- List of Independent Financial Advisory Firms in Singapore
Useful Lists:
- List of Independent Financial Advisory Firms in Singapore
- 14 Retail Banks Wealth Managers can join in Singapore
- List of Regional Private Banks in Singapore
- List of International Private Banks in Singapore
- List of Boutique Private Banks in Singapore
- 35 Leading Fund Management Firms in Singapore
- 10 Leading Insurance Companies in Singapore
- List of Wealth Management Publication in Asia
- List of Financial News Agency
Related Articles:
- What is a Personal Banker?
- What is a Priority Banker?
- What is a Private Banker?
- What does a Relationship Manager do?
- Reality Check I: So you got your new job as a Relationship Manager. What is next?
- Reality Check II: So you got your new job as a Relationship Manager. What is next?
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 10,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2023 Investment Day
- 28th March 2023 - Hong Kong
- 4th April 2023 - Singapore
- April 2023 - Virtual
- Sept 2023 - Hong Kong
- Oct 2023 - Singapore
- Oct 2023 - Hong Kong
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Investment Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
