How does Fintuity differ from a traditional financial adviser?
Traditional financial advisers are expensive
The Independent Financial Advisory (IFA) sector is widely recognised to be one of the most inefficient and technology-lacking sectors in the United Kingdom. The majority of the IFA industry consists of some 5000 high street based private practices, often with high overheads and as such associated high commissions. Whilst the service provided is compliant, these high fees have blocked many from accessing support and advice.
Here at Fintuity we have embraced technology to optimise every step of the advisory process to bring you a high quality service at a fraction of the cost of your local financial adviser. We run our business completely online, which means that we do not have the huge overheads such as travelling, paperwork and administration.
Quality of advice from a traditional IFA practice could be very poor
A normal IFA practice consists of between 3-5 people, who often spend a lot of their time travelling between clients and handling reams of paper documentation. Whilst often a recognised local name, many IFAs lack the resources to do the quality research required to accurately advise clients, which means in many cases an over reliance on product providers.
The Fintuity research team constantly monitors the market to bring you the best products that are available.
We value every client!
Due to the very nature of the business, traditional advisers target clients with at least £200,000 of investable assets. The £200,000 maker is often the point at which you become a “valuable client”. We disagree with this entirely.
At Fintuity we strongly believe that high quality financial advice should be available to everyone, irrespective of the size of their savings and investments. In many ways, for those with less income, it is often more sensible to have a good financial plan than for their wealthier counterparts.