At the risk of sounding facetious, an unbiased financial adviser is someone who gives independent advice on financial matters. Actually, stating the rather obvious in this manner put an important pressure on the three vital components of the independent financial adviser's role.
Independent
The independence of the adviser is critical. When an independent financial adviser is consulted, it is important to know that he or she has no vested interest and can not be influenced in any way by selling an individual company's products. Financial planning Oxfordshire means that the client can get the adviser to act completely impartially, entirely in the client's needs, and not because there is an established dependent relationship between the adviser and something particular supplier. The significance of this independence cannot be stressed enough. The adviser has to be licensed by and is regulated by the Financial Services Authority, and independence is a thing that is central to such recognition. The client's faith and trust in the adviser stems largely from the latter's independence.
Financial
An independent financial adviser needs to have expert professional understanding of a huge selection of financial products and services. Since it has one of the most highly developed financial services industries on the planet, the sheer selection of products on the British market implies that knowledge and professionalism should be of the best order.
Because of the sheer selection of subjects with which an unbiased financial adviser should be familiar, you will find a correspondingly wide range of qualifications available to individual advisers. For instance, the adviser might have professional qualifications awarded by the Chartered Financial Analysts (CFA) Institute, the Chartered Insurance Institute (CII), the Institute of Financial Planning (IFP), the Personal Finance Society (PFS), the Pensions Management Institute (PMI, the Securities and Investment Institute (SII), or others. Above all, however, the adviser knows that his is a constantly changing market, with services and services emerging at all times. He or she will make it her or his business to stay completely abreast of these trends.
Adviser
As an adviser, the 3rd and vital element of the independent financial adviser's role harks back to the first of their qualities, independence. The financial advice given must be "best advice" when recommending any product or service. In other words, the advice must be the advice that's genuinely in the client's best interest. It really is as if the adviser had stepped in to the client's shoes and was giving advice entirely from the client's perspective. In this manner, the client can be assured that the advice is truly independent, objective and impartial advice that will satisfy the interests that the client himself or herself has identified.
Summary
It is surprising the amount of meaning could be packed in to the three words that describe the role of the independent financial adviser. But as the above brief, thumb-nail sketchy shows, each one of the three words encapsulates a simple and vital part of this professional's job. Each word describes the obligations that the adviser has towards all of his clients, so the clients, because of their part, can rest absolutely assured that they receive genuinely independent, well-informed and expert financial advice that will serve their own needs.