How can an independent financial advisor help me?

You may want to consult an independent financial advisor (IFA). These are professionals skilled in giving independent advice to people about money. The Money Advice Service provides information on choosing an IFA.

An IFA should always provide a free initial consultation, but beyond that you will have to pay for their advice.

You are almost certainly best advised to consult an IFA rather than your bank. Most banks (though not all) will only try and sell you their own savings and pensions products. Some of these may be good value, but they will not have the wide range available to an IFA.

You can also exercise a degree of choice in finding an IFA. Some specialise in advising on ethical investment, while some might specialise in the particular needs of a section of society, such as the LGBT community. You can find a list of local IFAs on the Unbiased website.

Note: This content is provided as general background information and should not be taken as legal advice or financial advice for your particular situation. Make sure to get individual advice on your case from your union, a source on our free help page or an independent financial advisor before taking any action.