When might you need financial advice?
How to get financial advice
Financial advice can help you make informed decisions about managing your money at key moments, such as investing or saving, planning for retirement, buying a home, taking out insurance or dealing with major life changes like marriage, divorce or receiving a lump sum.
A financial adviser can help you assess your personal circumstances and identify financial products that may be suitable for your needs. In Ireland, financial advisers operate under different models. Some advisers are independent and assess products across the whole market, while others are restricted to advising on products from certain providers. Understanding the type of adviser you are dealing with, and whether their advice is independent or not, can help you choose the right support for your situation.
When might you need financial advice and how can an adviser help you?
A financial adviser may be able to help you with:
Investing or saving your money
Planning for your retirement
Making the most of a lump sum, such as a redundancy payment or inheritance
Buying a property or taking out a mortgage
Deciding what type of insurance you need
Managing significant life changes, such as starting a family or getting divorced
Improving your tax situation
An adviser can help you find the most suitable financial product based on your personal circumstances.
What types of financial adviser are available in Ireland?
Financial advisers go by different titles. Some are independent, offering advice across the full market, while others are restricted to products from a limited number of providers.
The table below outlines the main types of financial advisers and what each can offer.
Types of financial advisers | What they do |
|---|---|
| Multi-agency intermediaries | Give advice and sell products from multiple financial service providers. They must hold a letter of appointment from each provider they represent. These advisers are sometimes called "restricted intermediaries". |
| Authorised advisers | Give advice about all financial products across the market, even if they don’t hold a letter of appointment from the provider. They must consider and advise you on the most suitable product(s) available. Sometimes called fair analysis advisers. |
| Tied agents | Only advise and sell products from the financial services providers they are tied to. They cannot offer products from other providers. |
| Mixed status advisers | The range of products and providers they can advise on varies. For example, an adviser might offer pension advice from several providers but be tied to one insurance company for home insurance |
