Independent Financial Adviser

A person qualified to give financial advice to clients on life assurance, pensions, funds, and other financial products, who is not tied to any one financial institution.

A financial adviser may charge his clients a fee for his advice and, depending on his contract with product providers, may also receive a commission on the products that the client buys.

In contrast, a company representative or tied agent is a financial adviser who is authorised to recommend only the products of the company he represents, so his advice is partial.

A multi-tied agent offers products from a limited panel of providers.