Threat to 'restricted' advisers as consumers look elsewhere

This will come as a blow to the many adviser firms that are considering offering ‘restricted advice' post-RDR as the requirements to be ‘independent' become more onerous. Banks topped the list of preferred providers of the future with 63% of consumers, according to a survey from the Life Insurance and Market Research Association (Limra). Building societies were second with 57% followed by IFAs who can sell any product on 42%. However, advisers offering a limited product range scored just 17%. Retailers featured in the top half of the table, with 39% of those surveyed saying they wo...