At the chance of sounding facetious, an unbiased financial adviser is a person who gives independent advice on financial matters. In fact, stating the rather obvious in this manner put an important pressure on the three vital the different parts of the independent financial adviser's role.
Independent
The independence of the adviser is critical. When more info is consulted, it is very important know that he or she does not have any vested interest and will not be influenced at all by selling a single company's products. Independence implies that the client can expect the adviser to act completely impartially, entirely in the client's needs, and not because there is an established dependent relationship between your adviser and something particular supplier. The significance of this independence cannot be stressed enough. The adviser should be licensed by and is regulated by the Financial Services Authority, and independence is a thing that is central to such recognition. The client's faith and rely upon the adviser stems largely from the latter's independence.
Financial
An independent financial adviser will need expert professional knowledge of a huge selection of financial products and services. Because it has one of the highly developed financial services industries on earth, the sheer range of products available on the British market implies that knowledge and professionalism must be of the highest order.
Because of the sheer range of subjects with which an unbiased financial adviser has to be familiar, there is a correspondingly wide variety of qualifications open to individual advisers. For example, the adviser might have professional qualifications awarded by the Chartered Financial Analysts (CFA) Institute, the Chartered Insurance Institute (CII), the Institute of Financial Planning (IFP), the non-public Finance Society (PFS), the Pensions Management Institute (PMI, the Securities and Investment Institute (SII), or others. Above all, however, the adviser knows that his is a constantly changing market, with new products and services emerging at all times. He or she will make it her or his business to stay completely abreast of these trends.
Adviser
As an adviser, the 3rd and vital element of the independent financial adviser's role harks back again to the first of her or his qualities, independence. The financial advice given must be "best advice" when recommending any product or service. In other words, the advice must be the advice that is genuinely in the client's best interest. It is as if the adviser had stepped into the client's shoes and was giving advice entirely from the client's perspective. In this manner, the client could be assured that the advice is truly independent, objective and impartial advice which will satisfy the interests that your client himself or herself has identified.
Summary
It is surprising the amount of meaning can be packed into the three words that describe the role of the independent financial adviser. But as the above brief, thumb-nail sketchy shows, each of the three words encapsulates a fundamental and vital part of this professional's job. Each word describes the obligations that the adviser has towards each of his clients, so the clients, for their part, can rest absolutely assured they receive genuinely independent, well-informed and expert financial advice that will serve their own needs.