Restrictive practices

One of the key RDR-related decisions facing advisers is that of how they choose to designate themselves, as ‘independent’ or ‘restricted’? With many advisers having a close attachment to the IFA designation, it is perhaps unsurprising that some surveys suggest that most look like they will opt to go down the ‘independent’ route. However, the decision may not be easy as the restricted designation is not without its advantages. Firstly, let’s reprise some of the reasons for being independent. Independence has the advantage of a sense of continuity with the IFA designation. In addi...