FSA: 8% of independent advisers likely to go restricted

Nicola Brittain
clock

Just 8% of independent advisers are likely to go restricted according to the most recent Financial Services Authority (FSA) figures.

The data was gathered in the third-quarter of this year and comes from online and phone interviews conducted with 1,436 advisers.  Although 8% of independent advisers are likely to switch to restricted, 58% have said they will not, leaving 36% undecided. Just 1% of restricted advisers say they will switch to offer independent advice. In addition, 76% of advisers hold the necessary qualifications to be RDR ready by 31 December 2012. In terms of dealing with the low-net wealth section of the market, 38% of those advisers questioned said they would advice retail clients with less t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA's targeted support rules set to take effect from April 2026

FCA's targeted support rules set to take effect from April 2026

Regulator plans to open application gateway for firms in March

Isabel Baxter
clock 11 December 2025 • 5 min read
FCA sets out plans to simplify complaints regime

FCA sets out plans to simplify complaints regime

Including requirement for firms to report complaints involving vulnerable clients

Isabel Baxter
clock 04 December 2025 • 2 min read
FCA looks to boost transparency of ESG ratings providers

FCA looks to boost transparency of ESG ratings providers

Regulator opens consultation

Michael Nelson
clock 01 December 2025 • 2 min read