How we will prove our independence

From this year onward, consumers will know when they are receiving tied advice because their adviser will have to tell them. At least that is what the Financial Services Authority’s (FSA’s) requirements state. Will firms follow the rules, or will ‘restricted’ advisers play down their status when asked by clients? The FSA plans to carry out a thematic review in 2013 to ensure firms are describing their services accurately. As ever, the onus will be on ‘independent’ advisers to prove they are offering impartial advice, but how do they plan to do it? Here, four advisers explain their pro...