An Independent Advisor can offer advice on any product available in the market. Roundhouse Financial Services provides advice across all products in the marketplace. We can then choose the best product for each client and their financial goals.
There are basically two types of advisors within the financial services sector: online independent financial consultant and Restricted Advisor.
A Restricted Financial Advisor is a term used for firms that have some form of limitation on the advice that they offer. Essentially the difference is that a Restricted firm would only offer advice on a selection of financial products, whereas an Independent firm looks at the whole of the market.
A firm may be Restricted in the sense that they are tied to a specific financial product provider or providers. In practice, a Restricted firm might advise on a large number of financial products from many different providers, just not the entirety of the marketplace.
However, unless a firm is able to satisfy the strict regulatory rules and provide Independent advice for all the services that they provide they cannot describe themselves as Independent Financial Advisors.
Basically, if a firm does not specify that they are an Independent Financial Adviser, then they are most likely to be Restricted.It is the best choice.