Choosing the right independent financial adviser is not simply a matter of picking the first name that appears in a search result. The quality of financial advice you receive will directly affect your retirement, your tax position, and your long-term financial security. Here is what to look for.
Check FCA authorisation first
Every IFA in the UK must be authorised and regulated by the Financial Conduct Authority. Before engaging any adviser, verify their FCA registration at register.fca.org.uk. A genuine IFA will always be happy for you to do this and their FCA number will be displayed on their website and directory listings.
Understand the difference between independent and restricted advice
An independent financial adviser can recommend products from across the whole market. A restricted adviser is limited to specific products or providers. The Kaeltripton Financial Index only lists firms verified against the FCA register — always check whether the advice you are receiving is genuinely independent.
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IFA fees in the UK are typically charged as a percentage of assets managed (0.5-1% annually), a fixed fee per piece of advice (£500-3,000), or an hourly rate (£150-350/hour). Always get a clear fee agreement in writing before any work begins. A reputable IFA will provide a client agreement detailing all charges.
Look for specialism that matches your needs
Not all IFAs specialise in the same areas. An adviser who primarily works with business owners will be more relevant if you are selling a business than one who focuses on retail clients. Use the Kaeltripton Financial Index to search by firm type and review service descriptions before making contact.
Read reviews and ask for references
Client reviews on Google, VouchedFor, and directory profiles provide genuine social proof. Ask any IFA you are considering for client references and for their most recent compliance audit results if relevant to your situation.
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Frequently asked questions
What qualifications should an IFA have UK?
At minimum, a Level 4 Diploma in Financial Planning (DipFA or equivalent). Chartered Financial Planner (CFP) status indicates additional expertise. Always check qualifications are current and relevant to the advice you need.
How much does an IFA charge UK?
Fees vary: 0.5-1% of assets per year for ongoing management, £500-3,000 for fixed-fee advice, or £150-350/hour. Initial consultations are often free. Always get a written fee agreement before work begins.
How do I find a good IFA near me?
Use the Kaeltripton Financial Index to find FCA-verified IFAs in your area. Filter by specialism, review profiles, and verify FCA registration before making contact.
This article is for informational purposes only and does not constitute financial advice. Always verify regulatory status with official sources before making any financial decision.