IFP warns FSA to beware restricted advisers' 'weasel words'

In its response to the latest RDR consultation paper, the Institute of Financial Planning (IFP) says terms including ‘best of breed' and ‘whole of market', such as in fund choice through a single provider ‘bond' wrapper, should be outlawed for restricted practitioners. "The FSA should be especially aware of the tendency of these [restricted] firms to use weasel words to hide their true status, and these should be specifically forbidden," it says. "In the past, many firms who have chosen for commercial reasons to restrict their offering to consumers have attempted to disguise that rest...