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Benefits of Using an Independent Financial Advisor vs. Your Bank

TheDividend_9

Just learned what an independent financial advisor does-is it really better than going through my bank?

So, I always thought if you needed help with money, you just went to your bank and asked to talk to someone there. But today I read about IFAs (independent financial advisors) and apparently they can recommend products from a whole bunch of companies instead of just one? That sounds way better but is it really? Has anyone here used one before? Did it make a big difference for your savings or investments? And how do you even find a good IFA?

Sorry for all the questions, just kind of amazed that this is a thing!

SaverStreak

One thing to watch out for: not all IFAs are created equal. Some call themselves “independent” but might have preferred providers or get incentives. Always ask about their fee structure and whether they’re truly independent. Personal recommendations from friends or colleagues and checking their credentials with regulatory bodies can help you find someone legit. In my experience, talking to an IFA gave me more options-but you need to stay sharp and ask tough questions.