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Lansdown Club member profile: Sovereign

Each month we’ll be profiling different members of the Lansdown Club, one of the fastest growing business memberships in the South West. This month we profile Sovereign Independent Financial Advice.

Sovereign have been providing independent financial advice within the local community and beyond for the last 26 years.  Last year we were nominated as one of the Top 100 advice firms in the UK for 2016 by New Model Adviser / Citywire. If you've not heard about this award previously, it recognises prominent leaders and outstanding achievements in the UK financial advice community. We are really pleased with the nomination. In a small way it demonstrates the hard work we do for businesses in the region when it comes to financial advice and tax planning.

As part of our offering at Sovereign, we run seminars on a regular basis for Business Owners/Entrepreneurs/Accountants & Lawyers on Tax & Exit Planning.  The venue is usually at our offices in Thornbury and the presentation usually lasts around 45 minutes, the feedback we receive is excellent, so even if you have an existing IFA , it is well worth investing your time.  Please email Sally, sjp@sovereign-ifa.co.uk if you would like to be added to the invite list.

Is your Financial Adviser Independent? Do you know the difference between an Independent Financial Adviser and a Financial Adviser who offers a restricted advice model?

INDEPENDENT AND RESTRICTED ADVICE

Did you know that financial advice can be either independent or restricted? All firms providing advice should disclose upfront what type of advice each customer will receive. Some of the largest financial advice groups in the UK have moved to a restricted advice model over the last few years.

PROVIDING INDEPENDENT ADVICE

In order to call yourself an independent financial adviser, there is a need to provide unbiased and unrestricted advice based on a comprehensive and fair analysis of the market. Genuinely independent advice is free from any restrictions that could affect an advisers' ability to recommend what is best for the customer. An independent adviser is able to consider ALL retail investment products.

HOW DO WE DEMONSTRATE TO YOU THAT WE ARE GIVING INDEPENDENT ADVICE?

As an independent firm we are able to advise on the full range of products that may be suitable for you. Firms that define themselves as independent will need to demonstrate how they have reviewed the market and selected products in line with the client's attitude to risk and suitability.

PROVIDING RESTRICTED ADVICE

If your Financial Adviser only gives advice on certain types of product, or on products from one or a limited number of providers, they must describe their advice as 'restricted'.

They must tell customers that they provide restricted advice and how it is restricted - by product  or by provider. They must do this in writing and also verbally before they give the customer any advice.

We are very excited to have recently joined The Lansdown Club and are looking forward to building relationships with the fellow businesses. Mark Hibbitt, one of the Directors, is a life long Bristol City supporter so is delighted to be more involved with the club.

We have already taken advantage of the executive lounge facility, which is a great place to meet people on the South side of the city.  If any of you would like to meet with Sally or the Directors for a coffee to discuss how we can help you, please drop us a line.

To find out more about Sovereign please email Sally at sjp@sovereign-ifa.co.uk or visit our website

Sovereign Independent Financial Advisers Limited is authorised and regulated by the Financial Conduct Authority. FCA Number 585249.

Please note that Tax Planning, Commercial Mortgages and Buy-to-Let Mortgages are not regulated by the Financial Conduct Authority.