Regulation and Protection
Regulated financial advice is a personalised, professional recommendation given by an authorized expert who considers your specific financial situation and goals. In the UK, it must be legally provided by individuals or firms approved by the Financial Conduct Authority (FCA), offering consumer protections like the Financial Ombudsman Service.
Common Questions
Are you regulated by the FCA?
Yes. Wilfredson's is an Appointed Representative of New Leaf Distribution Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 460421). You can check that on the FCA's Financial Services Register at register.fca.org.uk, and we would encourage you to check any firm you are thinking of using.
Are you independent or restricted?
We are independent, which means our recommendations come from across the whole of the relevant market rather than being tied to any specific providers.
A restricted adviser can only recommend from a limited range, and many independent advisers may claim to be independent but have a vested interest in using a specific platform or investment. Both are legitimate and both are regulated. The difference is worth understanding before you choose anyone.
What protection do I have if something goes wrong?
Most people would be categorised as retail clients (as opposed to professional clients) and thus have the highest level of protection under the Financial Services and Markets Act 2000. Your categorisation will always be confirmed within your client agreement/terms of business document.
In terms of complaints, if you are unhappy with anything, tell us first and we will try to put it right. The formal route is a complaint to New Leaf Distribution Limited, who are responsible for our regulated advice. If you are still not satisfied, you can take it to the Financial Ombudsman Service free of charge.
Your savings are also be covered by the Financial Services Compensation Scheme (FSCS) depending on the circumstances. You can read more about the FSCS here.
What is the difference between a financial adviser and a financial planner?
In theory, nothing. Advisers can call themselves Planners and vice versa.
That said, most great advisers call themselves planners because we put more emphasis in the financial planning (putting the right money in the right place at the right time for the goals you want to achieve) rather than the more traditional advice of selling pensions, ISAs, or insurance.
The terms are used very interchangeably - it's therefore very important to pay attention to the way they say they work. If most of the conversation is around tax, products, or the markets, they might be more interested in your money than in yourself.
Great financial planners will always focus on you, your family, and your dreams first, before talking about what to do with your money.
Wilfredson's are proudly independent, regulated financial planners.
That's why we feel we're very well placed to help you make the right decisions with your life and your finances. Get in touch below for a free consultation.
