We want to help you achieve a lifetime of financial security, and there's lots of help available along the way. There are different types of intermediaries, which include financial advisers and execution-only brokers. Here, we'll explain the differences to help you decide what's right for you.

What's the difference between a financial adviser and an execution-only broker?

A financial adviser can advise on your financial goals and put together a plan to help you achieve them. They can talk you through the benefits, risks, charges and tax implications of different financial products, and make recommendations for you. This means they’re well placed to help you build a financial plan that could make all the difference to your future.

You can find a financial adviser near you by using unbiased.co.uk or findanadviser.org

An execution-only broker will give you access to a wide range of investment funds, arrange deals in investments on your behalf and give you information and tools to allow you to manage and plan your investments. They don’t make recommendations or offer advice.

Here’s a list of execution-only brokers who currently use Aegon*:

Are there different types of financial advisers?

There are two kinds of financial advisers; those that offer independent financial advice and those that offer restricted financial advice.

An independent financial adviser:

  • must consider all possible product and provider options for you, and do so free from any restrictions or bias;
  • will do a comprehensive review of your financial circumstances and needs;
  • will have knowledge of all product and provider solutions available, and
  • will make sure any product recommendations meet your agreed needs.

Any financial adviser that isn’t classed as independent is a restricted financial adviser.

A restricted adviser:

  • can only recommend from a select range of products and/or product providers;
  • will be able to advise on a limited selection of products and/or product providers;
  • may choose to specialise in only one advice area, e.g. mortgages, pensions or investments; and,
  • will make sure any product recommendations meet your agreed needs.

Restricted financial advisers can only recommend from a select range of products and/or product providers.

Do I need financial advice?

It’s up to you whether you feel you need professional financial advice, depending on what you want to do and how comfortable you are making financial decisions for yourself.

If you’re comfortable making your own financial decisions, then using an execution-only broker may be an option you want to explore. 

Find out what you should be thinking about in your run up to retirement with our video.

Aegon Assist is our free guidance service designed to guide you through the decision-making process to allow you to make informed choices about your savings. We can help you understand the options available to you. However we don’t provide advice, so if you're in any doubt, we recommend you seek financial advice, which you may need to pay for.

Call 03456 03 05 09 to speak to one of the team. Call charges will vary. We may record or monitor calls.