Restricted firm says model 'reduces friction' in advice giving process

Speaking at The Lang Cat's Home Truths conference last week, Clifton Asset Management director Anthony Carty said it was a long-held misconception that clients were serviced better under an independent umbrella. Carty said that despite his Bristol-based firm being restricted, its processes are "not particularly different from a lot of independent firms" owing to their tendencies to work with only a small number of providers. "When I look at the Financial Conduct Authority's definition of restricted versus independent, its laudable but largely impractical," he said. "Most independents ...