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An independent financial advisers (IFA) is a professional who offers independent advice on financial matters to their clients and recommends suitable financial products from the whole of the market. The term was developed to reflect a United Kingdom (UK) regulatory position and has a specific UK meaning, although it has been adopted in other ...
In November 2012, the association changed its name from Association of Independent Financial Advisers to Association of Professional Financial Advisers. [2] The change was ratified following a vote at the organisation’s annual general meeting, and meant that APFA from then on would represent financial advisers who are independent or restricted. [3]
An adviser may be restricted because they only advise on a specific area, for example pensions, or because they only advise on products from one company such as a bank. In the UK there are 30,043 investment advisers, 27,776 mortgage advisers of which 8,788 are holistic advisers providing investment and mortgage advice.
The UK mortgage market is one of the most innovative and competitive in the world. There is little intervention in the market by the state or state funded entities and virtually all borrowing is funded by either mutual organisations (building societies and credit unions) or proprietary lenders (typically banks). Since 1982, when the market was ...
OneFamily provides a range of financial services including over-50s life insurance, insurance bonds, tax-efficient savings plans, lifetime ISAs, lifetime mortgages and independent lifetime mortgage advice.
The nature and scope of a mortgage broker's activities vary with jurisdiction. For example, anyone offering mortgage brokerage in the United Kingdom is offering a regulated financial activity; the broker is responsible for ensuring the advice is appropriate for the borrowers' circumstances and is held financially liable if the advice is later shown to be defective.
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