The PFS's plans to publish a ‘plain English' version of the FSA's RDR guidance are to be applauded. Good luck to Fay and her colleagues in trying to make sense of what is a long, convoluted and often ambiguous document!
The PFS says it believes a new guide is vital as there is still a lot of confusion surrounding what will be required post-2012. In no area is there more uncertainty than the differences between ‘independent' and ‘restricted'. Some helpful comments have been made on this issue this week by Fay Goddard and Tenet's Keith Richards. They point out the difference between the categories partly relates to the range of product types on which advice can be given. Firms offering ‘independent' investment advice to retail clients must consider more than just packaged products. Advisers who only ad...
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