Advisers think the FSA's independent and restricted labels are "wrong" but the majority will remain whole of market after 2013, recent findings suggest.
Opposition to the regulator's tightened definitions of independent and restricted advice remains fierce. In a Dunstan Thomas poll of 127 advisers, 72% declared the labels "wrong". Despite the misgivings, three-quarters of those surveyed said they will remain whole of market IFAs after RDR. However, figures from an earlier poll suggest even this string showing could represent a decline. In a similarly-sized survey by Scottish Widows in 2009, 84% of IFAs said they would continue offering whole of market advice post RDR, with only 5% intending to go restricted. Two fifths of th...
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