How to find a (good) truly Independant F.A?

buel10

Hi.
A friend if mine is looking to apply for a mortgage so I asked him to consider using an IFA who is 'whole of market'. He said the adviser he is currently talking to has said that my friend can split his fee with the eventual mortgage provider. Am I right in thinking this doesn't sound very 'whole of market'?

He told me that he hasn't had much luck in finding an Independant FA. I advised unbiased.co.uk, please can I ask where else he can find a good local-ish IFA? Is the best advice to pay the adviser fee upfront and let the FA look at all options?

kingstreet

Independent mortgage broker and Independent Financial Advisor are not necessarily the same thing.

As the former, I do not advise on pensions, savings or investments which an IFA would and likewise, an IFA may not give mortgage advice.

Unbiased might be okay, searching for independent mortgage advice and turning off the sponsored ads option so you get a full list.

Word of mouth recommendation would doubtless be better.

ACG

Jump on google?

Some brokers charge a higher upfront fee and rebate any commission - that is the only way you can be sure a broker is not advising on commission alone.

In all honesty though, commission in the main is between around £330 and £350 for every £100k worth of lending. There are some that do more and some that do less but in the grand scheme of things its negligible.

-taff

Have a look on 'vouched for' as well

amnblog

Offering to split your income does not sound like the actions of a business fending clients off.

buel10

amnblog wrote: »

Offering to split your income does not sound like the actions of a business fending clients off.

Sorry, can you explain this please?

ACG

I think he means that its not a great sign is it when a company (any company) is giving away their profit in order to get business on the books.