What is independent financial advice?

women in financial planning session

Sarah Austin, Independent Financial Adviser from Martin-Redman Partners, explains how independent financial advice can help you plan, invest and save money.

What do you do when presented with a financial problem or situation that is new to you?

Some people may canvass their friends and family for information to help them, with some choosing to do the research themselves on the internet. Either way; the outcome would either be to find some form of professional help, maybe based on a personal recommendation, or to ‘do-it-yourself’.

Financial affairs are a key part of modern life, but financial education is sadly lacking in schools, and for adults’ financial products are full of jargon and complicated rules which can be hard to understand and make sense of. So, when should you seek independent financial advice?

The web pages of the Citizens Advice Bureaux give some suggestions; which are:-

  1. planning for your retirement
  2. investing or saving money
  3. making the most of a lump sum of money such as a redundancy payment or an inheritance
  4. buying a property or taking out a mortgage
  5. when your life changes for example, you're starting a family, getting divorced or you've been widowed.

Why take financial advice?

For most private individuals, the above are uncommon and unfamiliar circumstances, so taking external advice is likely to broaden horizons and give you a better outcome. You can get “guidance” for free from the Money Advice Service, so you can find out what sort of products and services are out there. Guidance is always useful as it will help you formulate the questions you need to ask and the sort of information you need to collect, but it will not pin down which investment, which product and which provider. That will need formal, paid advice, so you benefit from the protections offered by regulated advice as detailed by the industry regulator (the Financial Conduct Authority) on their website here.

Why independent?

Regulated advice is divided into two main camps:

  1. “whole of market”
    Your Adviser is independent of any Provider and can recommend the best fit from the market to you.
  2. or “restricted”
    Your adviser only advises on one Providers range of products/investments.

At Martin-Redman Partners, we believe that “whole of market” is best for our clients, as no Provider is likely to have the best product for every individual, by whatever measure you pick across their entire product range. We are Independent Financial Advisers (IFAs) so tailor our advice across providers, recommending the most suitable provider and product according to our clients budget, circumstances and goals.

Taking Financial Advice – What is the process?

  1. Firstly, we need to understand what resources you have and what you would like to achieve in the short, medium and long terms. This can be done by video conference, telephone or, (when allowable again), by face to face meeting.
  2. Secondly, we often need to contact the providers of your existing financial products, like pensions and life insurance, to collect the fine print of what you already have. If we can optimise existing plans rather than replace, we will, as this will keep the costs down for you.
  3. Thirdly, once we have the current situation and where you would like to be in the future, we will develop a financial plan to get you to your desired goal. If you want to look at ethical or “green” solutions, we can tailor the investment advice to meet your requirements, we advise and implement; you get to set the agenda.

If you would like to find out more about Independent Financial Advice, please do get in touch. We’d be very happy to explain our services further to you and how they can help you.

Arrange a meeting to find out how independent financial advice can help you
Please get in touch with us to arrange an introductory meeting, at our cost. At Martin-Redman Partners we have both male and female advisers who can help you make the most of your money – either by managing your pensions and investments, arranging life cover, and assisting with your financial plan.

To find out more about how we can help, or if you have any questions about your investments please get in touch by calling us on 01223 792196 or emailing info@martin-redmanpartners.co.uk We look forward to hearing from you.

 About Martin-Redman Partners  

We are a team of experienced Independent Financial Advisers (IFAs) who can advise on your personal or business financial arrangements. We have been building trusted relationships with clients for many years by articulating clear and tailored recommendations in areas ranging from investments to pensions and retirement planning, to complex estate planning advice. 

We offer expert independent financial advice throughout Cambridgeshire, Leicestershire, Suffolk, East Anglia and the South East.  Many of our clients are within, or are in the surrounding areas of Cambridge, Grantham, Stamford, Bury St Edmunds, Frinton on Sea, Ely, Peterborough, Huntingdon, Cambourne, Newmarket, Soham and Oundle.

The information contained is for guidance only and does not constitute financial advice. It is based on our understanding of UK legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change. Accordingly, no responsibility can be assumed by Martin-Redman Partners its officers or employees, for any loss in connection with the content hereof and any such action or inaction. 


We provide independent financial advice on investments, pensions, inheritance tax planning and protection. We work with private individuals, businesses and professional introducers, such as accountants and solicitors, to ensure our clients financial advice needs are met.

Martin-Redman Partners