If you're looking for a way to lower your bills, sadly an IFA cannot help.

But if you are looking for financial advice to help you make the most out of your savings and protect your wealth in case your circumstances change, it's well worth paying an Independent Financial Adviser to make sure you get it right.

After all, there are literally hundreds of different products on the market. Pensions, savings, investments, tax planning, endowments, mortgages, life assurance, critical illness, income protection... chosen correctly, these products can make a massive difference to you and your family. But if you don't have the time, knowledge or understanding to research into the 'best' products, you could literally be throwing your hard-earned money down the drain.

Most Independent Financial Advisors will not charge you for an initial consultation as this is there chance to gain a better understanding of your circumstances, aims and plans for the future. You may be thinking about your retirement; buying your first home in Newmarket; starting a family; launching a business. At every stage of your life, a good IFA can help you manage, protect and potential grow your wealth.

What is the difference between an Independent Financial Adviser and Restricted Adviser?

Legally, advisers are divided into the following two types:

An Independent Financial Advisor can offer advice and sell products from any financial provider across the market (hence why so many say they are 'whole of market'). They have to provide impartial, unbiased advice based purely on your financial and personal circumstances.

A Restricted Adviser are the types of advisers you'll find in a bank or building society in Newmarket town centre. They only have access to certain providers' products or alternatively, they have chosen to specialise in certain areas of financial advice.

These terminologies are legal distinctions so make sure you ask your adviser whether they are 'Independent' or 'Restricted'. Whilst some Restricted Advisors are worth using – particularly those who specialise in certain financial areas, it is usually best to opt for an IFA in order to receive 'best' advice and the most choice.

Please click here to find out more about recommended Financial Advisors in Newmarket.