If you’re looking for financial advice - whether for pensions, investments, or insurance - it’s important to understand how advisers are paid. One of the most common questions we hear is: “Do financial advisers take commission?”

Understandably, prospective clients want to know whether we have a vested interest in certain recommendations that could affect the advice we give. In this article, we’ll explain how independent financial advisers (IFAs) are paid, what makes us different from restricted advisers, and why working with a whole-of-market adviser gives you better, unbiased advice for long-term financial success.

Do financial advisers still get commission in the UK?

Since the Retail Distribution Review (RDR) came into effect in 2012, financial advisers can no longer receive commission on investment or pension advice. Instead, IFAs must charge transparent fees that are clearly agreed with you before any advice is given.

However, commission is still allowed for some non-investment financial products, including:

• Life insurance
• Critical illness cover
• Income protection
• Some mortgage products

In these cases, the commission is paid by the provider, but advisers are legally required to disclose the amount to you in writing.

At Simpson Financial Services, we’re completely transparent about both our fees and any provider commissions. You’ll always know exactly what you’re paying—and why.

What is an independent financial adviser (IFA)?

Not all financial advisers offer the same service. Some are restricted advisers, tied to a single provider or a limited panel of products.

Our Independent Financial Advisers are:

✅ Whole-of-market – able to recommend products from the entire market

✅ Unbiased – acting in your best interests, not a provider’s

✅ Transparent – with no hidden charges or sales incentives

This independence allows us to offer holistic financial advice that is tailored to your unique circumstances, with no hidden agenda.

Why whole-of-market advice is essential for your financial plan

Your financial journey is complex; savings, investments, pensions, protection, and sometimes mortgages or estate planning. That’s why you need advice that looks at your whole financial picture, not just a single product.

Our holistic financial planning can help you:

• Maximise tax efficiency across ISAs, pensions, and investments
• Align your insurance and mortgage strategies with your long-term goals
• Understand your financial risk profile and invest accordingly
• Plan for retirement, inheritance, and financial legacy

Our independent, whole-of-market approach means we recommend the best available solutions, not just what a limited provider offers.

Get independent financial advice you can trust

If you're ready to experience truly independent, whole-of-market financial advice, we’re here to help.

Get in touch

Please note, the Financial Conduct Authority does not regulate tax advice.