Financial Advisers

Question 1

What are the types of financial advisers?

Answer 1

1) Restrictive (tied financial advice).
2) Restrictive (multi-tied financial advice).
3) Independent financial adviser.

Question 2

Define an independent adviser.

Answer 2

Independent advisers can recommend financial products spanning the whole of the market. This means that their advice is unbiased and unrestricted.

Question 3

Define a restrictive adviser.

Answer 3

Restricted advisers can only recommend products from certain providers. In some cases, they will recommend products from a single company.

Question 4

What are the key responsibilities of financial advisers?

Answer 4

• Conduct in-depth reviews.
• Analyse and interpret information.
• Provide clear written communication.
• Stay up to date with legislation.
• Uphold the highest degree of integrity.