Financial advisers UK

garvno1

Hello all

Just wondering if there's any particular qualification/professional body that a mortgage financial adviser should have or be affiliated to before you choose one.

I'd be greatful for any info.

Garvno1

dunstonh

A financial adviser has a different level of qualifications and authorisations to a mortgage adviser. Indeed, increasingly IFAs are droping mortgage authorisation to focus on their core areas.

All advising firms have to be authorised by the FSA. The FSA will only authorise if the correct qualifications are in place. You check a firm is authorised at www.fsa.gov.uk/register.

Individual mortgage advisers are not listed on the register although financial advisers are.

Assuming mortgage adviser, you should make sure the adviser is whole of market and ideally avoid any salesforce. Whilst the latter generally means avoiding tied agents to an insurance company or bank. It is required that advisers give you a document at the start of any meeting confirming their status for mortgages and insurances. The tick boxes on both the insurance and mortgages should be for whole of market.