Threat to 'restricted' advisers as consumers look elsewhere

clock •

Multi-tied advisers are way down the list of consumers' preferred distributors for financial products in the future, behind even supermarkets and major retailers like M&S.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Feel Good Friday: Personal Finance Awards winners named

Feel Good Friday: Personal Finance Awards winners named

Awards ceremony took place yesterday

Professional Adviser
clock 23 October 2026 • 1 min read
What do younger clients really want from their adviser?

What do younger clients really want from their adviser?

'They're going to need all the help they can get'

Justin Cash
clock 21 October 2026 • 5 min read
CII and PFS celebrate more than 300 chartered graduates

CII and PFS celebrate more than 300 chartered graduates

347 graduate from CII and PFS

Sophia Panayi
clock 21 October 2026 • 2 min read