What are the best independent financial adviser firms in the UK? 

Choosing the right independent financial adviser (IFA) firm is key to achieving your financial goals, whether it’s retirement planning, investment strategies, or tax advice.

But what exactly makes an IFA firm stand out?

This article explores essential considerations, from expertise and experience to fee structures, to help you confidently select the best independent financial adviser firm for your needs.

What makes a good IFA firm? 

If you’re considering getting expert financial advice, choosing the right firm is vital. 

There are many things you can look for, including: 

• Extensive experience: You should look for an IFA firm with a lot of experience in the area you need help with and use advisers regulated by the Financial Conduct Authority (FCA). 

• Transparent fee structure: The price of financial advice can vary hugely, so ensuring you understand what fees you’ll pay for the services provided is essential. 

• Do they specialise in what you need help with? It’s important you understand what you need help with so you can choose the right firm, whether it’s with retirement planning, investing, or tax or estate planning. 

• Can the financial advice firm help if your needs change? Your circumstances and financial situation will likely change over time, so you’ll need tailored advice. For example, while you may need help buying a home now, in the future, you may require estate planning services, especially if you want to pass assets to younger generations. 

• Strong track record: It’s worth looking at a firm’s track record and whether it has satisfied clients willing to recommend their services. If a firm has won many awards, that’s also a sign they’re delivering a high level of service or offering trusted products.  

The FCA regulates all financial advisers to ensure they meet high standards for client protection. 

How much does an IFA cost? 

The cost of using an IFA varies, depending on your required services and asset levels. 

There are three main ways a financial adviser can charge: 

• Fixed fee: You’ll pay a fixed fee for a service, such as setting up an annuity. 

• Percentage of assets: If a financial adviser manages your investment portfolio over a set amount of time, they’ll usually charge a set percentage of your portfolio. 

• Hourly rate: Some services may be charged via an hourly rate, which is £150 on average. 

Who are the best IFA firms in the UK? 

There are many ways to determine the best independent financial advice firms in the UK, including the assets under management (AUM). 

We’ve looked at award-winning IFA firms with at least £1 billion of AUM that also offer access to some chartered financial planners. 

Chartered financial planners must meet high standards in various areas, such as qualifications, professional development and business practices.

How to choose the right IFA firm 

With so many IFA firms available, it can be challenging to choose the right firm for your needs. 

Here are some useful tips: 

• What do you want help with? Deciding what your long-term financial goals are and what you need help with is a vital starting point, whether it’s retirement planning, investing or estate planning, as you can then search for a firm specialising in this area. 

• Check the firm’s credentials: It’s a good idea to check a financial advice firm is FCA-regulated, as well as the experience and qualifications of your chosen adviser. You can also look at client reviews and testimonials to get insight into customer satisfaction.  

• Are the fees clear? Understanding the charges and fee structure is important, as well as comparing with other firms to ensure you’re getting value for money. 

• Have a free consultation: Financial advisers usually offer a free consultation so you can meet them first and discuss your needs and financial goals before committing to advice.  

Get expert financial advice 

Expert financial advice can help you reach your money goals and can have a long-term impact, so it’s good to consider your chosen firm carefully. 

A financial adviser will offer personalised advice based on your unique goals and circumstances, whether you’re buying a home, starting your investment journey or need help with tax or estate planning.   

Ultimately, choosing a reputable IFA firm can provide peace of mind and help you build the future you want. 

Unbiased can help by quickly matching you with a qualified and FCA-regulated financial adviser.