How to prove independence post RDR

Following months of consultation, the beginning of this month saw the FSA publish its eagerly awaited finalised guidance on independent and restricted advice. In it, the regulator confirmed its definition of independent advice to be “unbiased and unrestricted, and based on a comprehensive and fair analysis of the relevant market”. The document also concreted the long list of retail investment products expected to be taken into consideration, including the likes of investment trusts and structured products. It is this ‘whole of market’ stipulation proving particularly daunting for many sm...