Annual Review with Your Independent Financial Adviser (IFA) – What You Should Have Received

What You Are Entitled to in Your Annual Review

An annual financial review with your Independent Financial Adviser (IFA) is more than just a brief catch-up. It is a thorough evaluation of your financial plan to ensure it remains aligned with your goals and circumstances. If your review was nothing more than a 20-minute coffee chat, you may not have received the full service you are entitled to.

Key Components of a Proper IFA Annual Review

Your IFA should have provided you with a comprehensive, documented review covering the following key areas:

1. Detailed Personal and Financial Assessment

• A thorough discussion of any changes in your personal circumstances, such as marriage, children, career changes, or health.
• An updated review of your financial position, including income, expenses, and any significant financial events.

2. Investment and Portfolio Performance Analysis

• A clear and detailed breakdown of how your investments have performed over the past year.
• Explanation of any necessary portfolio rebalancing to align with your risk profile and financial objectives.
• Transparent discussion on fees and charges associated with your investments.

3. Retirement Planning Progress

• A full review of your pension and retirement savings, ensuring they are on track to meet your future needs.
• Explanation of any legislative or market changes that may impact your retirement strategy.
• Clear recommendations on any adjustments to pension contributions or investment strategies.

4. Tax Efficiency and Estate Planning

• Identification of tax-saving opportunities you should have been advised on.
• Review of estate planning strategies, including inheritance tax implications, wills, and trusts.

5. Protection and Insurance Review

• A review of all existing insurance policies (life, health, income protection, etc.).
• Advice on whether your coverage is still suitable based on any changes in your circumstances.
• Identification of any gaps in your financial protection that should have been addressed.

6. Actionable Financial Planning Adjustments

• A summary of recommendations tailored to your goals and financial position.
• Clear next steps provided, ensuring ongoing financial security and efficiency.
• A follow-up plan or scheduled check-ins for continued financial oversight.

What You Should Have Walked Away With

A proper annual review should leave you with:

• A documented summary of the review meeting.
• Clear, written recommendations and action points.
• Updated financial projections tailored to your goals.
• Confidence in your financial plan moving forward.

Did You Receive What You Paid For?

If your annual review felt more like a quick chat than a structured financial check-up, you may have been mis-sold financial advice. Your financial future deserves more than a 20-minute coffee meeting.

How to Claim Compensation for a Mis-Sold IFA Review

Pacific Legal are experts in securing compensation for clients who have been charged for financial services they never received. If your IFA failed to deliver a comprehensive annual review, you may be entitled to compensation.

✅ Did your IFA fail to provide a full documented review? ✅ Were key areas of financial planning ignored? ✅ Did you receive unclear or vague advice?

If you answered yes to any of these, you could be eligible to claim compensation.

Get the Compensation You Deserve

Don’t let inadequate financial advice cost you your future security. Click below to start your claim today and ensure you get the service you paid for.