RDR could devalue 'independent' label - AIFA

It considers the Financial Services Authority’s (FSA) proposals to alter the criteria that firms need to meet, in order to call themselves independent. AIFA is concerned that the term ‘independence’ could be devalued, as only advisers in the professional financial planners (PFPs) category would be able to use the ‘independent’ label. AIFA also believes that providing whole of market advice is an essential condition for ‘independence’. Fay Goddard, Deputy Director General, AIFA, said: “RDR proposals would re...