Important Notice- re usage and understanding of the term ‘Independent’ in relation to Impartial Financial Advice Ltd.
Under the Consumer Protection Code, financial advisers cannot refer to themselves or their firm as being ‘Independent’ or use any word or expression that is a derivative of, or similar to this term if they facilitate remuneration by means of commission.
Therefore, to be classified as ‘Independent’ a firm must operate on a fee only basis.
Impartial has taken the position that in some instances it is in the client’s best interests to pay by way of commission, even if Impartial is indifferent as to whether we are paid by fee or commission. For this reason, Impartial will continue to offer the option for our services to be paid for by commission.
Therefore, Impartial is not to be considered as ‘Independent’ in any Regulatory context. Please contact us if you require any further clarification.