Restricted sees almost two-thirds of all advice revenue - FCA data

The regulator's latest Data Bulletin also showed 14% of firms offer restricted advice, while the remaining 3% offer both independent and restricted advice. While just one-in-seven firms offer restricted advice, however, the FCA data showed it accounts for almost two-thirds (62%) of revenue from adviser charges - with independent advice accounting for the remaining 38%. The great majority of charges are made through facilitated payments, according to the FCA's data. Four-fifths (81%) of initial, one-off and ad-hoc payments are paid by clients through facilitated charges, leaving 19% a...