Just over 9 months ago the Retail Distribution Review brought sweeping changes across financial services. With political party conference season in full swing and suggestions that changes may be made to the FCA (Financial Conduct Authority) now is as good a time as any to reflect on one of the main changes RDR delivered.
Financial advisers are either Independent or Restricted -there is no middle ground.
Independent means just that – ‘unbiased and unrestricted’ advice based on a ‘comprehensive and fair’ analysis of the market.
Restricted means limitations are placed on the providers an adviser may recommend or the type of products they use, either way you will not be getting a complete picture of the financial world. Many of the biggest financial services firms are now restricted in their advice remit.
Here at Plutus we are firm believers in the value of independent advice. The heart of our proposition is to form an on-going interactive relationship with our clients- to do this we need to be completely free of outside influence with no limits places on the recommendations we make
If you are unsure of the type of advice you are being offered ask to see firms terms of business – they are obligated to inform you of the model they operate.
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