Restricted advice

Alan Easter, strategy, product and development director at Honister Capital, has called on advisers to rally around AIFA during the transition to RDR and ignore those who make vocal exits from the trade body.

Almost a half of IFAs would consider becoming restricted post-RDR under existing FSA definitions, according to new research.

Manchester United manager Alex Ferguson yesterday said he had "done everything" to help wantaway striker Wayne Rooney settle at the club, including giving him financial advice.

Some view the FSA's 'restricted' label as the new name for tied or multi-tied advice. They're wrong, says Tenet distribution and development director Keith Richards.

SimplyBiz chairman Ken Davy has warned restricted advice will be "bad for the consumer and bad for professionalism".

Sesame Bankhall will launch a restricted advice service for at-retirement customers with small pension pots.