Do Independent Financial Advisors (IFAs) have access to every commercial mortgage product?

Question

It is commonly held that IFAs can search the entire marketplace for the best products. However Royal Bank of Scotland private banking tell me their products (publicly advertised on their site) are not available to IFAs. Do IFAs know about these (potentially better products) or not? If a better product is available in the market but not to the IFA is it not a conflict of interest for the IFA to sell the customer an inferior product knowing there is a more suitable product they don't earn any commission on?

Answer 1

So RBS is trying to tell you that IFA's don't have Internet access or are too dumb to type YOUR details into RBS web site ?

What a load of b*llsh*t ... RBS is just trying to avoid you getting a better deal elsewhere i.e. con you into signing up with their 'secret' (only published to the whole world) 'better' (if only compared to other RBS) product ...

If you are with RBS Private banking you must be very rich (only the very rich and very poor** pay someone else to manage their finances) so I suggest you ask your Accountant

**'normal' people who refuse to learn how to manage their own finances soon end up in the 'very poor' category with an IVA ...

Answer 2

IFAs have access to all products even if they are not able to sell them. RBS Private Banking can only advise on their own products. The difference is that the IFA's job is to evaluate all your needs and recommend solutions, whereas RBS's job is to shift the merchandise.