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    • Home • Advice • Common questions

    What's the difference between independent and restricted advice?

    02 October 2024

    Question by Boring Money Reader

    Answered by Boring Money

    There are two different types of financial adviser. The range of products they may be able to offer you depends on whether they're 'independent' or 'restricted'.

    • Independent financial advisers ('IFAs') give unbiased advice about the full range of financial products on the market.

    • Restricted advisers only give advice on products from a limited, pre-selected range of providers - and sometimes just one.

    One of our Contributors, Matthew Spence - Director at Spence Financial Ltd. - has a handy video outlining the key differences between the two. Click here to watch it.

    Answered by

    Boring Money

    Here to help you understand your options and make smart money choices.

    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
    Risk warningAs is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.