How much will an IFA charge me?

Dealing with an Independent Financial Adviser (IFA) is like dealing with any service provider. You have a job that needs doing and the IFA wants to do that job for you. Like a solicitor an IFA is required to inform you of their charges in advance of doing any work.
They will specify if they are paid an hourly rate or a flat fee and, if they recommend a product, whether they will receive any remuneration from the product provider. The remuneration from the product provider is also called commission. The IFA may offset the commission against their fee or take both. If you feel the IFA’s costs are too high for the job they are going to do then you can choose not to use them.

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