Independent Financial Adviser

There is no doubting that the Credit Crunch and resulting recession has elevated the importance of the role of an independent financial adviser. With the ‘unexpected’ never too far away, in terms of job security and current financial wellbeing it has never been a more critical time to consult with an IFA to really maximise your present and future business or personal financial matters.

There has been a raft of anecdotal evidence regarding the worrying number of UK consumers cutting back on financial service offerings especially within the insurance sector. It is important to reiterate that home, whether it be building or contents insurance cover is an absolute must and underlines the importance of homeowners needing to look elsewhere to reduce their outgoings. A trusted independent financial adviser can certainly help to negate such risks and indeed add real value through their extensive knowledge and product expertise. This expertise will help provide a vital financial safety net to steer individuals and families through the recession, as well as helping to provide long-term security at a cost that is right for you.

Indeed, the true value of professional financial advice should not be underestimated. To help illustrate this fact, new research has confirmed that 97 per cent of clients are reported as saying that they would be happy to use an IFA again, or recommend them to a friend or family member. The study, conducted by NMG Financial Services Consulting among 534 clients of Sesame – a large IFA network -  over the 12 months to April 2009, revealed that the majority would 'definitely', or be 'likely' to, use an IFA again and/or recommend them. Overall, 73 per cent of respondents opted for 'definitely', 18 per cent said 'very likely', and 6 per cent said 'quite likely'. The most telling statistic, however, is that only 1 per cent of people said they would 'definitely not' use their adviser again or recommend them to friends and family.

In addition to this a recent poll produced by Nottingham University Business School echoed the fact that IFAs are the most trusted individuals working in financial services today. With an overall trust rating of 75.02, the Financial Services Research Forum's 2009 trust index, carried out by Nottingham University Business School, found that despite the current economic turmoil, on average, respondents were more trusting of financial services institutions than organisations like the NHS and BBC, who scored 53 and 61 respectively.

Financial advisers and brokers received the highest rating - 81.67 - on trust and trustworthiness, followed by investment companies (76.24), general insurers (75.98) and building societies (75.22).

From these research papers it is fair to say that the vast majority of independent financial advisers can continue to pride themselves on providing an acclaimed quality of service. This reinforces the huge value that people place in professional financial advice and the positive impact that this can have on their future financial well being. As lifestyle choices and changes in circumstance continue to dominate our modern day lives independent financial advisers can help us all to adjust our arrangements accordingly and provide much needed peace of mind where our finances are concerned to keep the ‘unexpected’ at bay.