Different Types Of Financial Advisers In Bristol
Bristol, South West England is Englands sixth and UKs eighth most populous city
. Bordering the counties of Somerset and Gloucestershire and located near the historic cities of Bath to the south east and Gloucester to the north, Bristol is built around the River Avon and is the largest centre of culture, employment and education in the region. It is extremely prosperous and has been linked with the sea for many centuries. With all that Bristol has to offer, living and working here is a great idea. Financial advisers in Bristol are a great idea if one is looking to live and work in the area.Money and finances are a part of life investing in the services of a financial adviser is imperative. Financial advisers offer assistance with many aspects of financial planning, such as life assurance, investment and pension advice. Financial advisers also provide tax planning advice, as well as give advice to local businesses. Financial advisers also provide advice and help to arrange mortgages. There are three types of financial advisers operating in the UK market independent financial advisers, tied agents and unregulated mortgage brokers.
Independent financial advisers or IFAs refer to individuals who are able to sell regulated insurance products. These are covered by the Financial Services Act 1986 and covers any product which has an element of investment attached to it. Independent financial advisers are able to sell regulated insurance policies from a range of providers in the market. This means that they are able to seek out the most appropriate policy for their customers. Independent financial advisers in Bristol have to justify why they have chosen one policy over another product and may be required to do so by regulators if a complaint or query is made.
Tied agents represent one insurance company only where the sale of a regulated investment is concerned. These agents are in a position to represent any mortgage lender and to sell the range of mortgage products available throughout the market as a whole. A tied agent is required under the Financial Services Act 1986 to tell customers which insurance company he or she represents and they will be required to justify why they have sold a particular investment product.
Unregulated mortgage brokers refer to brokers who are not able to sell regulated investment products that are covered by the Financial Services Act. These brokers are required to register under the Mortgage Code and specialize in offering mortgage advice rather than investment advice.
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