Guide · Adviser types
IFA vs financial adviser: what is the difference?
IFA means independent financial adviser. The important distinction is the scope of products and providers the adviser can consider.
What does IFA mean?
IFA is short for independent financial adviser. An independent adviser can consider relevant products from across the market rather than being restricted to a limited provider or product range.
Is every financial adviser an IFA?
No. Financial adviser is the broader term. A financial adviser may be independent or restricted, so ask which applies and what any restriction actually means for your advice.
Is an IFA automatically better?
No. Independence describes scope, not universal quality. Specialist experience, service, client fit and fees still need to be compared.
What should you ask?
Independent or restricted?Get a clear answer.
If restricted, how?Provider, product area or another limitation?
Does it affect my problem?Understand the practical impact.
What else should I compare?Experience, minimums, fees and service style.
Sources & further reading