IFAs better than tied advisers at giving advice - Which?

The study by consumer magazine Which? found more than two thirds of tied advisers failed to pass all its benchmarks for giving good advice, compared with less than half of IFAs. Which? researchers visited 21 IFAs and 19 advisers tied to various banks and building societies, including HSBC, Nationwide and Abbey, and asked for advice on how to invest £30,000. The research found half of all advisers didn’t recommend paying off debts before investing, while 14 advisers tested failed to gather information about the clients needs to the expected standard. More than a quarter failed to establis...