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If you are approaching a big life event or are in need of a little guidance, then Unbiased.co.uk provides you with a directory of over 27,000 advisers, offering the UK’s biggest choice of FCA regulated and qualified advisers. Its smart search tool promises to connect you to the most suitable adviser/broker/accountant for your needs.
However, don’t expect much more beyond this. While there are useful tips and guides, the site mainly gives you a central place to search out the type of financial professional you want for your situation.
Top features of product
The idea of Unbiased is to provide an impartial directory for people to use to find themselves a financial adviser, mortgage broker or accountant. Its main selling point is that it matches you to an adviser in your area, completely free of charge. It does this in two ways; either you can use it’s smart search ‘connect tool’ which makes you identify what it is you need help with and suggests a professional to you, or you can search and browse from a list of professionals in your area.
Guidance is a key part of the Unbiased’s service. Beyond its search features, what you will find are articles and well thought out guides which will help you in your quest for financial advice. Its Adviser Checklist provides a framework of questions to ask your matched adviser when you meet. It includes things like asking whether their advice is restricted in any way or what form their charges will take. This can help you to have a clearer understanding of what it is you need to know going into your initial meeting.
Meanwhile, its Cost of Advice tool helps you to see how much you are likely to pay for the financial advice you seek. And the handy thing here is that it gives guidance on whether – based on the assets you have – it will work out as cost effective.
If you are just curious about the process surrounding things like buying your first home or financial planning for your family, then you can delve into a wealth of articles covering a huge range of financial matters. Here you can arm yourself with the basics of financial planning, making it easier for you to identify which areas to focus on in your current stage of life.
What could be improved?
Unbiased is a relatively simple product in reality, and unsurprisingly it has its limitations.
Firstly, you won’t know exactly how much you will need to pay for the financial advice until you have had your first contact with a professional. Unbiased is just there as the facilitator. So while it offers guidance on how much you can expect to pay, there is no concrete answer until you speak to your matched professional directly. Which may make it hard to budget.
Secondly, there is not much to the service beyond it being a directory. While it does group professionals together by how near they are to your location, there is no information on what makes it’s ‘smart’ search feature any better to your regular search engine.
Finally, it’s not an instantaneous process. If you decide to use the Connect tool, then you will have to wait for a professional to be in touch, which could take up to a day. If you decide to search and browse yourself, there is the same process of reaching out and then waiting to hear back.
Fees you should know about
When it comes to using Unbiased itself, then you can be confident that you are not going to be charged. It is entirely free to use. Instead, the listed professionals pay a small flat rate fee to Unbiased if they are connected with a new client.
However, you should expect to pay a fee for the financial advice you receive from whoever you are matched with. This will need to be something you will need to ask in your initial meeting with them. Fees are likely to range between £500 and £800 depending on what financial advice you need and the total amount you have.
How do you apply?
Unbiased couldn’t be simpler to use. If you want to search and browse yourself, then once you have selected a professional you have the options to make an enquiry or request a call back.
If you decide to take advantage of Unbiased’s smart search features, then you simply need to identify which service you are looking for, give a bit more information about your needs and how much you own in total and then provide your postcode. Your matched professional will then reach out to you to organise an initial consultation.
Terms and conditions:
- Free consultation is without obligation and for new adviser clients only.
- Duration of free consultation is up to an hour.
Service and support
While Unbiased is there are a facilitator to match you with an advisor, you can expect some support along the way. Once you have submitted your search query, you can keep track of progress through a free account.
Here you will receive a notification once a match is found and find relevant guides to your financial enquiry.
Is Unbiased a good choice for you?
If you have reached that stage in life where you do feel you need some financial guidance, then Unbiased could be a good tool for you. As it’s completely free to use, it gives you a starting point to find a qualified and regulated financial professional to help you through those big life moments.
However, don’t expect Unbiased to take the decision out of your hands. It is still down to you as to which adviser you pick and what fees you are willing to pay. If you are someone who likes to go prepared into a meeting, then resources such as Unbiased’s Adviser Checklist help to give you a solid framework to find out the information you need. And its guides and tips cover a huge range of financial matters, further helping you to decide what is important at your current stage of life.
Finally, all free offers (except the mortgage review) include £50 off the adviser’s fee if you go onto take full advice.
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