Since the original Financial Services Act 1986 invented the concept, the word ‘independent' has become the watchword among financial advisers.
Many of whom so strongly identify with the label, that it has become almost a personal statement of professionalism. Post-RDR, advisers will be faced with a difficult choice. Many should conclude that the only sensible, commercial decision will be to give up the cherished ‘independent’ label in favour of the dreary and demeaning ‘restricted’ tag. It is difficult to see many advisers adorning their office windows with a sticker proclaiming ‘restricted advice available here’. I regret that this unfortunate term has entered the RDR lexicon. However, I would maintain that the term inde...
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