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Financial advice in the UK, explained straight

Most people do not know what they are buying when they see a financial adviser. This explains the categories, the costs, and how to check anyone before you deal with them.

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The short answer

Information explains facts, guidance explains your options, and regulated advice recommends a specific course of action and makes the adviser accountable for it. Regulated advice gives you a complaint route to the Financial Ombudsman Service. What an adviser is permitted to do matters more than what they are qualified in.

3 categoriesInformation, guidance and advice
2 minutesTo check a firm on the FCA Register
£0Cost of MoneyHelper and Pension Wise
FreeThe Financial Ombudsman Service
What is on this page
  1. Guidance, advice and information are three different things
  2. Permissions matter more than qualifications
  3. Independent or restricted
  4. How advisers get paid
  5. The free help most people never use
  6. Where we fit

Guidance, advice and information are three different things

What you get Who is responsible Typical cost
Information Facts and explanation, no view on your case You are Free
Guidance Your options explained, no recommendation You are Free from MoneyHelper and Pension Wise
Regulated advice A recommendation for you specifically The adviser, who is accountable for it A fee, or commission from the provider. Protection advice usually costs you nothing

The difference matters most when something goes wrong. Regulated advice gives you a complaint route to the Financial Ombudsman Service.

Permissions matter more than qualifications

An adviser can be qualified in something and not permitted to advise on it. The FCA authorises firms for specific activities, and that authorisation is what counts.

We are a worked example. So we advise on protection directly and introduce you to a separately authorised firm for the rest.

Ask any adviser what their firm is authorised for, then check it yourself. It takes two minutes on the FCA Register, and our step by step guide shows exactly what to look at.

Independent or restricted

Independent advisers consider the whole relevant market. Restricted advisers work from a narrower range, either fewer products or fewer providers.

Restricted is not worseA specialist restricted firm can know one area far better than a generalist. What matters is whether the restriction affects you.
Ask what the restriction isRestricted to one insurer is very different from restricted to protection products across many insurers.
Get it in writingFirms must tell you their status before advising. It is in the client agreement, which you should read.
Check what happens outside itA good firm tells you when your need falls outside what they do, and says who should handle it.

How advisers get paid

A fee you pay

Investments and pensions

Either a percentage of the money, an hourly rate or a fixed project fee. It has to be disclosed before you commit.

Commission from the provider

Protection and mortgages

The insurer or lender pays the adviser. It still has to be disclosed.

An ongoing charge

For continuing service

Usually a yearly percentage for reviews and rebalancing. Ask what you actually receive for it, and in pounds.

Our costs article puts real numbers to each of those.

A laptop and household bills on a kitchen worktop

Not sure what kind of help you actually need?

Tell us the question. We will say whether free guidance covers it, whether we can help directly, or who should.

Ask us a question

Prefer WhatsApp? Message us there. We are open Monday to Saturday, 9am to 8pm.

This goes to a separately authorised firm we have vetted. The introduction costs you nothing. If you go ahead, we may be paid a fee by that firm.

The free help most people never use

  • MoneyHelper, the government-backed money guidance service
  • Pension Wise, free appointments for anyone aged 50 or over with a defined contribution pension
  • Citizens Advice for benefits, debt and consumer problems
  • StepChange and National Debtline for free debt advice
  • The FCA Register, to check any firm before you deal with it

None of these charge, and none of them sell you anything. Using them before you pay for advice is the sensible order.

Where we fit

Life cover, critical illness cover, income protection and family protection are advised on and arranged by us.

For mortgages, pensions, equity release and investments we introduce you to a separately authorised firm we have vetted, and we tell you who they are before anything is passed on. The introduction costs you nothing. If you go ahead, we may be paid a fee by that firm.

That distinction is on every page of this site. Our adviser page sets out the qualifications, and the FCA Register confirms the permissions.

A calculator and notepad being used to work out a household budget

Who this suits, and who it does not

Paid advice is usually worth it for
  • A defined benefit pension transfer worth over £30,000, where it is also required by law
  • Turning a pension pot into a retirement income
  • Investing a lump sum you cannot afford to lose
  • Protection cover where health conditions complicate the application
Free guidance usually covers
  • Understanding what a product does
  • Checking your State Pension record
  • Budgeting and debt problems
  • Comparing standard insurance or savings accounts

Check broadband before you make an offer

Broadband speeds can vary street by street, so check the exact address before you commit. Ofcom's free checker shows which broadband speeds and mobile coverage are available at any UK property.

Check broadband at an address (Ofcom)

Want all your bills in one?

We can introduce you to a specialist who can combine your mobile, broadband and utilities into one bill. There's no fee for the introduction.

We don't provide these services ourselves. Switching household bills is not a regulated financial service, so FCA protections and the Financial Ombudsman do not apply. We'll only pass your details to the specialist if you ask us to. See our privacy notice.

Questions people actually ask

What is the difference between advice and guidance?
Guidance explains your options and leaves the decision with you. Regulated advice recommends a specific course of action and makes the adviser accountable for it, including through the Financial Ombudsman Service.
Do I need a financial adviser?
Not for everything. Free guidance covers a lot of ground. Advice earns its cost where the decision is large, hard to reverse or heavily taxed, such as a pension transfer or a retirement income plan.
What does independent mean?
An independent adviser considers the whole relevant market for the products they advise on. A restricted adviser works from a narrower range and must tell you so before advising.
How do I know an adviser is genuine?
Check the FCA Register for the firm's reference number and permissions, and confirm the contact details on the Register match the ones you were given. Fake firms often clone a real firm's identity.
What if the advice turns out to be wrong?
Complain to the firm first. If you are not satisfied, take it to the Financial Ombudsman Service, which is free. If the firm has failed, the FSCS may compensate you.
Is protection advice free?
There is usually no fee to you. The insurer may pay the adviser a commission. It still has to be disclosed, and you should be told what it is.
Can one adviser do everything?
Some firms hold permissions across mortgages, pensions, investments and protection. Many specialise. What matters is that whoever advises you is authorised for the thing they are advising on.
What should I bring to a first meeting?
Recent pension statements, mortgage details, existing policies, a rough monthly budget, and a note of what you are actually worried about. The last one matters most.
How do I check broadband speed at a property?
Use Ofcom's free broadband and mobile checker at checker.ofcom.org.uk. Enter the property's postcode and choose the address to see which broadband speeds and mobile coverage are available before you make an offer.

Where to go next

Check an adviserTwo minutes on the FCA Register.Spotting scamsThe patterns that never change.What advice costsReal numbers for each model.Guidance or advice?Which one your question needs.Questions to askTen questions before you commit.About Ben TomlinQualifications and permissions.
Where these figures come from

Figures checked on 1 September 2026 and correct for the 2026/27 tax year. Rates change, so check the source before you act on a number.

Investment and pension advice goes to a separately authorised firm we have vetted. The introduction costs you nothing. If you go ahead, we may be paid a fee by that firm.

Last reviewed September 2026.

Start with the question, not the product

Tell us what you are trying to sort out. We will be straight about whether it is ours to handle.

Start a conversation

Prefer WhatsApp? Message us there. We are open Monday to Saturday, 9am to 8pm.

This goes to a separately authorised firm we have vetted. The introduction costs you nothing. If you go ahead, we may be paid a fee by that firm.