RDR

The UK's biggest advice firms have been accused of failing to adequately inform potential clients whether they provide independent or restricted advice.

SIFA, a body aimed at promoting collaboration between solicitors and independent financial advisers, has clarified its membership eligibility rules to reflect changes to the definition of IFA.

WHY WE DO IT

RDR

Almost 40% of UK adults would "never consider" using a professional financial adviser, a study commissioned by the Financial Services Authority (FSA) suggests.

The Investment Management Association (IMA) has urged fund groups to roll over past performance of existing fund retail classes to new ‘clean' RDR share classes.

Wealth advice firm Towry Group is eyeing further expansion after raising £35m of new equity from two co-investors of private equity firm Palamon - AlpInvest Partners and Honeywell Capital Management.

The ex-chief executive of Saunderson House, Nick Fletcher, has launched a new IFA firm, London Wall Partners.

Some 34% of client portfolios are being outsourced to discretionary fund managers (DFMs), up from 28% in 2011, according to research released today.

Tied wealth manager St James's Place has sent its advisers guidance on how best to describe its restricted service.