Why an Independent Broker may be the best choice for your investment and protection advice.
When you are making big life choices, such as where to invest your funds for retirement, or what life assurance options meet your family’s needs, it’s important to know that you are being given sound advice. In the industry there are two types of brokers:
Tied brokers- those who are ‘tied’ to a particular company or bank, and sell only their products. These brokers have a vested interest in making you believe that their company’s products are the best option.
Independent Financial Advisers- those who work with companies across the industry, and sell the products that are best suited for the client, regardless of the company providing it. These brokers have your interest first, and can help you compare products across the industry to get the best services available.
In Ireland, there are roughly 1200 financial brokers, and the Competitions Authority has said that independent brokers are able to consistently provide a better value to clients. At Claffey and Egan, this is due to the fact that we work with 6 of the largest Insurance companies in Ireland, and many different investment companies. This allows us to offer a wide range of protection and investment products, and compare the value and services to get our clients what suits their needs and financial situation the best.
An Independent adviser is there for the client, NOT the insurance company they work for. Independent brokers are members of the local community, and they rely on referrals and the goodwill of clients to maintain their business and reputation. With that in mind, it’s clearly in the broker’s best interest to ensure that the client is well looked after throughout the life-cycle of their business.
This means that, for Claffey and Egan brokers, it’s not just about the initial application and sale, but also maintaining our clients’ interests through the potentially 10+ years of your insurance or investment policies by regularly reviewing the products they have to ensure they remain the best available, and being there for them in the case of a claim or payout. After all, our clients are our neighbors, and often become friends, so we want to make sure you’re looked after.