Sense: restricted advice firms will pay just as much for PII

Young said there were currently several restricted companies pushing the idea that attaining PI insurance will be more costly for independent than restricted firms. The argument is based on the fact that, to remain independent post Retail Distribution Review (RDR), an adviser must be able to offer advice on a wider range of products, pushing up the costs of insurance. But Young said he had spoken to "six or seven" PI brokers and insurers to try to determine whether it would be more expensive for Sense - as an independent firm - than its restricted counterparts. He said: "Undoubtedl...