Independence demystified: three IFAs' queries answered

By now, I’m sure most readers will be familiar with the FSA’s definition of the standard for independent financial advice. It reads as follows: A firm must not hold itself out to a retail client as acting independently unless the only personal recommendations in relation to retail investment products it offers to that retail client are: (a) based on a comprehensive and fair analysis of the relevant market; and (b) unbiased and unrestricted Unfortunately, if that leaves you with a few unanswered questions, the definition for the standard of restricted advice is unlikely to provide ...