The IFA who went restricted to stay independent

The St Helens-based business decided to drop its independent status after selecting never to advise on unregulated investment schemes - no matter their apparent suitability for a client. Following advisement from the Financial Conduct Authority (FCA), the business said it was told it could no longer call itself 'independent'. However, for DC&A managing director David Cathcart, little, if anything, has changed. "If you know you are going to spend 30 or 40 hours trying to prove you are an IFA, what's the more cost effective route? Just go restricted and carry on being independent whi...