Typically IFAs offer a free initial meeting with fees contingent on whether you act upon their recommendation. Other financial advisers will charge a fee of around £500 for an initial review and then further fees dependent on the level of work involved in implementing their recommendation. However financial advisers can still be paid via product commissions when they provide independent mortgage advice or recommend a life insurance product.
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Get your free initial consultation nowOther ways to get free financial advice online
When looking for financial advice there are many options that are totally free, here is my roundup of what is available.
- Moneyhelper – (Formerly the Money Advice Service) Government-backed service offering free financial advice – www.moneyhelper.org.uk
- Citizens Advice Bureau (CAB) – Provides advice on money, benefits, employment issues and consumer issues – www.citizensadvice.org.uk
- Which? – Campaigns on consumer issues and offers independent advice on many finance topics, Charges a subscription for some of their services – www.which.co.uk
- Shelter – Offers advice on housing, debt, benefits care and health issues – www.shelter.org.uk
- Consumer Credit Counselling Service (CCCS) – Free and confidential advice on debt problems including budgeting and credit advice – www.cccs.co.uk
- National Debtline – Free and confidential advice given over the phone and an online webchat and – www.nationaldebtline.co.uk
- Financial Ombudsman Service – Free service that helps settle disputes between consumers and UK based financial services businesses – www.financial-ombudsman.org.uk
- Age UK – Finance advice for the older generation – www.ageuk.org.uk
- Moneyhelper (Pension help) – Information and advice related to pensions – www.moneyhelper.org.uk/pensionhelp
- Tax Help for Older People – Tax advice for older people on low incomes that can't afford professional advice – www.taxvol.org.uk
If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers – VouchedFor