IFA Promotion
Encyclopedia
Unbiased.co.uk is an agency which provides legal and financial advisory information services run by an independent non-profit body. The organisation was founded as IFA Promotion in 1989 by 19 financial product providers whose main objective was to sell financial products to consumers via independent financial advisers
(IFAs).
as the "only database in the UK which lists truly independent financial advisers."
The ‘find an IFA’ search also runs on various partner websites such as the Financial Times
, the Guardian
, the Telegraph
, and MSN
.
Unbiased.co.uk expanded its service in 2008 by launching a local whole of market mortgage adviser search, and again in 2009 with a local solicitor search. It was revealed that there was “a 25% jump in the number of people contacting advisers for help with a mortgage” as the numbers of people using the search rose from 36,000 to 45,000 between January and June 2009.
In June 2011, unbiased.co.uk launched an accountant search. Like the existing unbiased.co.uk searches, the free and confidential, postcode-driven service matches users with the nearest appropriate registered accountant, allowing them to search for a range of criteria, such as area of specialism, gender of adviser and preferred method of payment. Potential customers can also further research advisers by visiting their websites and viewing their profiles on LinkedIn and Twitter if listed by the adviser. Unbiased.co.uk the website was relaunched to create a hub full of tools, calculators and information to help people manage their money and legal matters.
In 2010 the organisation announced that their funding model had changed, and was now 50% funded by advisers paying for an enhanced profile listing and extra benefits, and only 50% funded by its sponsors .
The ‘find an IFA’ search also runs on various partner websites such as the Financial Times
, the Guardian
, Orange, and MSN
.
It is also listed on various trade bodies, such as AIFA, the AIC, the IMA and Reita. Government bodies also refer consumers to this service and it is featured on websites such as the Citizens Advice Bureau
, Directgov
, Consumer Direct
, Department of Work and Pensions, Financial Services Authority
, Financial Ombudsman Service
, Financial Services Compensation Scheme
, Pensions Advisory Service, Pensions Ombudsman
, Pensions Regulator and the Pensions Service.
Financial adviser
A financial adviser, is a professional who renders financial services to individuals, businesses and governments. This can involve investment advice, which may include pension planning, and/or advice on life insurance and other insurances such as income protection insurance, critical illness...
(IFAs).
The Company
Unbiased.co.uk was founded to help consumers find an independent financial adviser. It started as a consumer hotline in 1989 and changing to the online search in 2000. Unbiased.co.uk was amongst the first organisations to promote IFAs to consumers and created badge of ‘independence’ (or roundel) for IFAs to prove they were giving the highest quality of financial advice. Unbiased.co.uk registered the blue roundel logo device as a trademark in 1995. The "find an IFA" search has been described by The TimesThe Times
The Times is a British daily national newspaper, first published in London in 1785 under the title The Daily Universal Register . The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary since 1981 of News International...
as the "only database in the UK which lists truly independent financial advisers."
The ‘find an IFA’ search also runs on various partner websites such as the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
, the Guardian
The Guardian
The Guardian, formerly known as The Manchester Guardian , is a British national daily newspaper in the Berliner format...
, the Telegraph
The Daily Telegraph
The Daily Telegraph is a daily morning broadsheet newspaper distributed throughout the United Kingdom and internationally. The newspaper was founded by Arthur B...
, and MSN
MSN
MSN is a collection of Internet sites and services provided by Microsoft. The Microsoft Network debuted as an online service and Internet service provider on August 24, 1995, to coincide with the release of the Windows 95 operating system.The range of services offered by MSN has changed since its...
.
Unbiased.co.uk expanded its service in 2008 by launching a local whole of market mortgage adviser search, and again in 2009 with a local solicitor search. It was revealed that there was “a 25% jump in the number of people contacting advisers for help with a mortgage” as the numbers of people using the search rose from 36,000 to 45,000 between January and June 2009.
In June 2011, unbiased.co.uk launched an accountant search. Like the existing unbiased.co.uk searches, the free and confidential, postcode-driven service matches users with the nearest appropriate registered accountant, allowing them to search for a range of criteria, such as area of specialism, gender of adviser and preferred method of payment. Potential customers can also further research advisers by visiting their websites and viewing their profiles on LinkedIn and Twitter if listed by the adviser. Unbiased.co.uk the website was relaunched to create a hub full of tools, calculators and information to help people manage their money and legal matters.
Founding Sponsors (as IFA Promotion in 1989)
- Abbey for Intermediaries
- AegonAEGONAegon N.V. is one of the world’s largest life insurance and pension groups, and a strong provider of investment products. Aegon's head office is in The Hague, Netherlands...
- AMP NPI
- AvivaAvivaAviva plc is a global insurance company headquartered in London, United Kingdom. It is the sixth-largest insurance company in the world measured by net premium income and has 53 million customers in 28 countries...
- Brarbie Life
- Clerical Medical Investment GroupClerical MedicalClerical Medical is a British life insurance, pensions and investments company founded in 1824.In 1824, Dr George Pinckard formed a committee of physicians and members of the clergy which published a pamphlet called 'Prospectus for the Establishment of a new Assurance Office with Improved...
- Dresdner RCM Funds (UK) Ltd
- Fidelity InvestmentsFidelity InvestmentsFMR LLC or Fidelity Investments is an American multinational financial services corporation one of the largest mutual fund and financial services groups in the world. It was founded in 1946 and serves North American investors. Fidelity Ventures is its venture capital arm...
- Henderson Touche Remnant Unit Trust Management
- Invesco Perpetual
- LAS Group
- MGM Assurance
- PrudentialPrudential plcPrudential plc is a multinational financial services company headquartered in London, United Kingdom.Prudential's largest division is Prudential Corporation Asia, which has over 15 million customers across 13 Asian markets and is a top-three provider of life insurance in mainland China, Hong...
Assurance Co Ltd - Schroder Unit Trusts Limited
- Scottish Life
- Scottish Widows Plc
- Standard LifeStandard LifeStandard Life plc is a long term savings and investment business, with headquarters in Edinburgh and operations across the globe. It has 1.5 million shareholders in more than 50 countries and over 6 million customers.-History:...
- The SkandiaSkandiaSkandia is a Swedish insurance company that was started in 1855. It has operations in Europe, Latin America, Asia and Australia. Skandia also operates an internet bank called Skandiabanken....
Group of Companies - National Mutual
2011 Sponsors
- AEGONAEGONAegon N.V. is one of the world’s largest life insurance and pension groups, and a strong provider of investment products. Aegon's head office is in The Hague, Netherlands...
- Alliance TrustAlliance TrustAlliance Trust plc is a publicly-traded investment and financial services company, headquartered in Dundee, Scotland. Established in 1888, the firm operates the largest investment trust in Britain. Alliance Trust is the tenth-largest company based in Scotland...
- AvivaAvivaAviva plc is a global insurance company headquartered in London, United Kingdom. It is the sixth-largest insurance company in the world measured by net premium income and has 53 million customers in 28 countries...
- AXAAXAAXA S.A. is a French global insurance group headquartered in the 8th arrondissement of Paris. AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The AXA group of companies engage in life, health and other forms of...
- Bright Grey
- Canada Life Ltd
- Clerical Medical Investment
- Franklin Templeton
- Friends ProvidentFriends ProvidentFriends Provident was an organisation offering life insurance based in the United Kingdom. It was founded as a mutual Friendly Society for Quakers, although it was demutualised in 2001 and became a publicly listed company, no longer linked with the Religious Society of Friends...
- ICM Research
- Invesco Perpetual
- J.P. Morgan Asset Management
- Legal & GeneralLegal & GeneralLegal & General Group Plc , commonly known as Legal & General, is a multinational financial services company headquartered in London, United Kingdom. Its products include life insurance, general insurance, pensions and investments. It has operations in the United Kingdom, Egypt, France, Germany,...
- Lockton
- MetLife
- Opinium Research
- Prudential
- Royal London 360°
- SchrodersSchrodersSchroders plc is a British multinational asset management company with over 200 years of experience in the world's financial markets. The company employs 2,905 people worldwide who are operating from 32 offices in 25 different countries around Europe, America, Asia and the Middle East...
- Scottish Life
- Scottish Widows Plc
- Standard Life Assurance Company
- Sun Life Financial of Canada
- Zurich Intermediary Group
In 2010 the organisation announced that their funding model had changed, and was now 50% funded by advisers paying for an enhanced profile listing and extra benefits, and only 50% funded by its sponsors .
Chief Executives of Unbiased.co.uk
- Karen Barrett: 12 October 2009 - Present
- David Elms: 22 May 2000 - 12 October 2009
- Ann-Marie Martyn: October 1997 - 22 May 2000
- Robert Browne-Clayton: 18 April 1995 - October 1997
- Joanne Hindle: July 1989 - 18 April 1995
Chairmen of Unbiased.co.uk
- David Graham: 14 April 2003 - Present
- Roy Nicolson: 4 November 2002 - 14 April 2003
- Kevin McBrien: 01 July 2001 - 4 November 2002
- Douglas Claisse: March 1996 - 30 June 2001
- Peter Glover: July 1989 - March 1996
Operations
All unbiased.co.uk qualifications and designations have been assigned a level based on an analysis which was completed by UK NARIC, a national DfES agency which provides guidance on levels of international qualifications (academic, vocational and professional). These qualifications were then split into two levels (A & B). Level A qualifications are equivalent to A level standard. Level B qualifications are set at a standard equivalent to components of a degree.The ‘find an IFA’ search also runs on various partner websites such as the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
, the Guardian
The Guardian
The Guardian, formerly known as The Manchester Guardian , is a British national daily newspaper in the Berliner format...
, Orange, and MSN
MSN
MSN is a collection of Internet sites and services provided by Microsoft. The Microsoft Network debuted as an online service and Internet service provider on August 24, 1995, to coincide with the release of the Windows 95 operating system.The range of services offered by MSN has changed since its...
.
It is also listed on various trade bodies, such as AIFA, the AIC, the IMA and Reita. Government bodies also refer consumers to this service and it is featured on websites such as the Citizens Advice Bureau
Citizens Advice Bureau
A Citizens Advice Bureau is one of a network of independent charities throughout the UK that give free, confidential information and advice to help people with their money, legal, consumer and other problems....
, Directgov
Directgov
Directgov is the UK government's digital service for people in the United Kingdom, providing a single point of access to public sector information and services.The content is developed by government departments, working with a central Directgov team...
, Consumer Direct
Consumer Direct
Consumer Direct is a Government-funded call centre providing basic consumer advice in the United Kingdom. Information is also provided on their website ....
, Department of Work and Pensions, Financial Services Authority
Financial Services Authority
The Financial Services Authority is a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury and the organisation is structured as a company limited by guarantee and owned by the UK government. Its main...
, Financial Ombudsman Service
Financial Ombudsman Service
The United Kingdom's Financial Ombudsman Service is an ombudsman established in 2001 as a result of the Financial Services and Markets Act 2000 to help settle disputes between consumers and UK-based businesses providing financial services, such as banks, building societies, insurance companies,...
, Financial Services Compensation Scheme
Financial Services Compensation Scheme
The Financial Services Compensation Scheme is a "statutory fund of last resort" in the United Kingdom, set up under the Financial Services and Markets Act 2000 to compensate customers of "authorised financial services firms" in the event of their insolvency. It consolidated previous compensation...
, Pensions Advisory Service, Pensions Ombudsman
Pensions Ombudsman
The Pensions Ombudsman is the official ombudsman institution responsible for investigating complaints regarding pensions in the United Kingdom. The Pensions Ombudsman is a non-departmental public body, and the holder is appointed by the Government, but acts independently after appointment. His...
, Pensions Regulator and the Pensions Service.
External links
- unbiased.co.uk website
- Types of IFA Qualification