Restricted advice

Eight out of ten advisers could move to a restricted advice model after the retail distribution review (RDR), recent findings suggest.

Aviva has said its retail wrap will target advisers offering restricted and simplified advice propositions as part of a wider assault on the mass market.

AIFA policy director Chris Hannant has criticised 'free rider' advisers who back the trade body's efforts and benefit from its work, but don't want to pay for membership.

Axa Wealth is launching a restricted advice offering for advisers looking to move away from independent status.

The vast majority of advisers intend to remain in the industry and offer independent advice after 2013, in a sign advisers have "accepted" RDR, research suggests.

An "alarming" 80% of client assets are from the over-50s age group, according to research.

Standard Life has no "firm plans" to launch its own restricted advice package for IFAs but says the model does have a place in the market.

Advice firms should not become fixated on remaining independent, network and support service provider Sesame Bankhall has said.

The Financial Services Authority (FSA) has confirmed the presence of trainees within an advice firm will not prevent it from holding itself out as independent.

The number of financial advisory businesses intending to trade on a purely independent basis in 2013 is falling, according to a poll comparing sentiment now with a year ago.