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As a financial advisor you will offer advice and guidance on financial products and services, including pensions, savings and investment options and personal tax issues. You will examine an individual’s income and expenditure, and will provide advice on saving schemes and products to suit that individual. The advice you offer will be accurate and independent and will never favor one financial product provider over another.

In the current climate of fierce competition between advisers, and with the media’s frequent criticisms of unreliable guidance, the need for credible advice is extremely high. Many consumers choosing to consult independent advisers do so after becoming disillusioned with large financial corporations, while others are confused and intimidated by the complex array of financial products on offer.

As a financial advisor you will sell the products of financial service providers and offer appropriate advice. The main types of services you will provide are

  • Mutual Funds
  • Segregated Funds
  • Tax Planning
  • Estate Planning
  • Life Insurance
  • Disability and Group Insurance
  • GIC’s
  • Registered Education Savings Plans
  • Registered Retirement Savings Plans
  • RIF’s, LIF’S and LIRA’s

An independent financial advisor offers advice and guidance on financial products and services, including pensions, savings and investment options and personal tax issues. They will examine an individual’s income and expenditure, and will provide advice on saving schemes and products to suit that individual. The advice they offer must be accurate and independent, and cannot favor one financial product provider over another.

In the current climate of fierce competition between advisors, and with the media’s frequent criticisms of unreliable guidance, the need for credible advice is extremely high. Many consumers choosing to consult independent advisors do so after becoming disillusioned with large financial corporations, while others are confused and intimidated by the complex array of financial products on offer.

Financial advisors sell the products of financial service providers and offer appropriate advice. The main types of services sold by advisors are life assurance, mortgages, pensions, health insurance, unit trusts, investment trusts, direct investments (stocks, shares, debentures) and tax efficient investments. Some advisors are involved in corporate finance and other investment activities e.g. planning for school fees. The range of services will depend on the client base and the specialism of the advisor, and may vary from simply advising on a particular area to a comprehensive financial planning service.

All financial advisors are required under local financial services act to state clearly whether they are ‘tied’ or ‘independent’. A tied agent or salesperson is committed to a single financial institution and may only sell the product of this organization and no other.

Alternatively, the independent financial advisor should consider the entire market place when making recommendations. Commission on sales is generally the largest source of income for financial advisors, although this varies between different providers. There has been significant growth in the independent advisor sector and a reduction in the number of tied agents. Independent Financial Advisors usually offer clients the choice of payment by fee or commission. Although there is a trend in some areas towards payment by fee, commission is still the most common payment method.