SRA backs restricted advice referrals

The SRA board will make its final decision at its next meeting, scheduled for Wednesday, but it is likely its current policy of only referring clients in need of investment advice to IFAs will be scrapped. The solicitors' regulator said changes brought about by the Retail Distribution Review (RDR) meant it also had to change. Its code of conduct will be altered to reflect the changed advice landscape. The SRA also said it needed to ensure that best outcomes for clients, and excluding restricted advisers could be damaging. Agnieszka Scott, SRA director of policy, said despite opposi...