Restricted advice tag a 'concern' - Openwork's Davis

Davis says the majority of Openwork’s advisers would be comfortable to continue with a multi-tied model, although it is possible the panel of products on which they recommend may be extended. However, what its advisers would be called under the post RDR regime is causing unease. Davis says: “We know they don’t like the term ‘restricted advice’. At the end of the day the rules proposed concern a product range that is restricted and not restricted advice. “There is a degree of concern here about how they speak to clients about this and represent themselves.” Currently, Openwork’s mem...