What is the difference between regulated financial advice and financial guidance?

Regulated financial advice is a formal recommendation for a specific financial product, backed by regulatory protection. Financial guidance is general information to help you understand your options without a specific recommendation. Delphina provides guidance, not advice.

Is Delphina a financial adviser?

No. Delphina is a financial clarity platform. We connect to your accounts, show your complete financial picture, and help you understand the impact of different decisions. We do not give regulated financial advice. For regulated advice on specific products, you would need an IFA.

When should I definitely use an IFA?

You should use an IFA for pension transfers (especially if you have defined benefit pensions), complex tax situations involving estate planning, inheritance tax mitigation strategies, or specific regulated products like guaranteed annuities. These require the legal protection that regulated advice provides.

How much does an IFA actually cost?

IFAs typically charge £75-350 per hour, with an average around £150 per hour. Initial advice often costs 1-3% of your assets under management. So for a £300,000 portfolio, initial advice could cost £3,000-9,000. Many IFAs also charge ongoing fees of 0.5-1% per year.

Can I use Delphina alongside an IFA?

Absolutely. Many people use Delphina for ongoing monitoring and scenario modelling while working with an IFA for specific regulated decisions. Delphina helps you understand your overall picture between IFA consultations.

What does Delphina actually do?

Delphina connects to your bank accounts, pensions, and investments to give you a complete picture of your finances. You can see your forecast, model different scenarios (like increasing contributions or changing retirement age), and understand the impact of decisions before making them. It is clarity, not advice.

Probably Not. But You Almost Certainly Need Something.

Most people assume there are two options: do it yourself, or pay a financial adviser thousands of pounds. There are actually four. And most people need none of the expensive ones.

The Advice Gap Is Real

Only 8.6% of UK adults received regulated financial advice in the past year, according to the FCA Financial Lives Survey 2024.

This is not because people do not need help. It is because the maths often does not add up. The average new IFA client has £400,000 or more in assets. The average IFA charges £150 per hour, or 1-3% of your assets for initial advice.

Who Actually Uses IFAs

Average portfolio size: £400,000+ (Lang Cat)
Average age of advised investor: 59 (Lang Cat)
Typical initial fee: 1-3% of assets
Typical hourly rate: £75-350, average £150 (MoneyHelper)

If you have £50,000 in pensions and just want to know if you are on track, paying £1,500 for initial advice makes no sense. But the 91.4% who did not use an IFA still need help. They are notlazy or irresponsible. They are simply in the advice gap.

Four Tiers of Financial Help

Most people need tier 1 or 2. Very few need tier 4. Know where you fit.

1. Free Guidance

MoneyHelper, Pension Wise, Citizens Advice, Delphina

For simple questions, understanding your options, and general direction. No cost. No commitment. No specific recommendations.

2. Financial Clarity Tools

Delphina

For seeing your complete picture, forecasting your future, and understanding the impact of decisions. Not advice. Clarity. Ongoing monitoring included.

3. Financial Coaching

Delphina coaching, independent coaches

For tailored 1-on-1 education and training. Help understanding your situation and building your financial capability.

4. Regulated Advice (IFA)

Independent Financial Advisers

For complex situations: pension transfers, specific regulated products, complex tax situations. Legal protection included.

When You Genuinely Need an IFA

Defined Benefit (Final Salary) Pension Transfers

Transferring a final salary pension is irreversible and complex. This requires regulated financial advice. The penalties for getting it wrong are severe and lifelong.

Specific Regulated Products

Products like guaranteed annuities, income drawdown products, and certain investment products require regulated advice. If someone tells you that you need a specific product, you need an IFA.

Complex Inheritance Tax Planning

Structuring your estate to minimise inheritance tax often involves trusts, complex investments, and legal structures that require regulated advice.

When You Do Not Need an IFA

But you still need something. These are the situations where free guidance or clarity tools are enough.

Understanding Your Pension

How much do you have? What funds are you in? What charges are you paying? Free guidance and clarity tools answer this.

Consolidate old pensions

Knowing If You Are on Track

Will you have enough? When can you retire? Clarity tools model your future without costing hundreds in advice fees.

Use the retirement planner

Impact of Increasing Contributions

What if I increase my pension contribution by £200 per month? Clarity tools show the impact instantly.

Model different scenarios

Consolidating Old Pensions

Should you bring old pensions together? This is usually a clarity question, not an advice question, unless you have valuable guaranteed benefits.

Pension consolidation guide

75% of Over-45s Have No Clear Plan

According to AJ Bell, three-quarters of people over 45 have no clear plan for accessing their pension. This is not a character flaw. It is a clarity problem.

You cannot plan something you cannot see. The first step is understanding your complete financial picture. That is not advice. That is just knowing where you are.

What Delphina Does

Connects to your bank accounts, pensions, and investments
Shows your complete financial picture in one place
Forecasts your retirement based on your actual data
Lets you model scenarios (contribution changes, retirement age, etc.)
Monitors your progress over time

Not advice. Clarity.

How to Know What You Need

Use Delphina if:

You want to see if you are on track for retirement
You want to understand the impact of financial decisions
You want ongoing monitoring without ongoing costs
You are not sure if you need an IFA

Use an IFA if:

You have a defined benefit pension to transfer
You need a specific recommendation for a regulated product
You have complex inheritance tax planning needs
You have £400,000+ and complex financial situation

Find Out If You Are on Track

No advice. Just clarity. Free to start.

Related Guides

Financial Guidance vs Advice

Understand the critical difference and what each protects you from.

Consolidate Old Pensions

Should you bring your old pensions together? A clarity question, not advice.

When Can I Retire?

The real answer depends on your complete picture. Not just your pension.