IFA

Advisers consider confidence and positive attitude to be the top characteristic of the most successful financial advisers in the industry, according to a poll posted yesterday.

A pensions analyst who authored a report criticising the industry has spoken about the ‘vitriolic' reaction from independent financial advisers (IFAs) to his recommendations.

A report that describes the IFA brand as "irretrievably damaged" has been criticised by adviser trade association, the IFA Centre, which said the report's target was "simply wrong".

An IFA comparison site has widened its scope to allow any clients to leave ratings and comments about their adviser.

Firms who refer clients to restricted advisers for retail investment advice will not have their independence threatened after implementation of the Retail Distribution Review (RDR) rules, the Financial Services Authority (FSA) has confirmed.

Advisers are now less concerned about having to sell unsuitable products to remain independent and more concerned about the research and administration required to retain this status, according to a poll of IFAs conducted today.

UCIS BAN

Barclays Stockbrokers has re-launched its execution-only service to intermediaries with an enhanced adviser support team.

The Financial Services Authority (FSA) has fined an independent financial adviser £60,000 for the unsuitable sales of Unregulated Collective Investment Schemes (UCIS) and other non-mainstream investments.

SimplyBiz founder Ken Davy has launched a national advisory business aimed at the restricted advice market.