Blog: Peter Mann on restricted advice

clock

The Skandia CEO says although the term restricted advice carries negative connotations, it could be the predominant model of advice in five years' time.

In my view, the word ‘restricted' is a particularly poor way to convey the reality of the type of advice proposition it is trying to describe. The term itself has negative connotations. It can be taken to imply that a restricted adviser will only be able to recommend products from one provider or one fund group. The fact is however, that a financial adviser will be able to recommend all investments apart from the most obscure hedge funds and still technically be classed as ‘restricted'. Given this lack of clarity around the definition, it is not surprising that so many financial advis...

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

Advisers do not expect FCA's targeted support to prompt new client propositions

Advisers do not expect FCA's targeted support to prompt new client propositions

Some 54% said they will not consider new propositions, Schroders finds

Isabel Baxter
clock 03 June 2025 • 2 min read
'Fairer' regulation and 'smarter' compliance essential to unlock sector's full potential

'Fairer' regulation and 'smarter' compliance essential to unlock sector's full potential

Professional bodies outline four key reforms to boost financial services

Jenna Brown
clock 20 May 2025 • 3 min read
FCA confiscates more than £300,000 from convicted fraudsters

FCA confiscates more than £300,000 from convicted fraudsters

Faced charges for £1.2m investment fraud in 2023

Isabel Baxter
clock 14 May 2025 • 1 min read