Restricted status could force you to end your professional referral arrangements while opting to remain independent could impact your professional indemnity insurance premiums.
Can an adviser identify a common relevant market across all of its clients that does not include certain retail investment products yet still call themselves an IFA?
This guide tackles what is independent and restricted status, the pros and cons of both classes and how to make sure your clients understand the type of advice you offer post Retail Distribution Review.
Answers supplied by the FSA, Chris Hannant, policy director of the Association of IFAs, Keith Richards, distribution and development director of Tenet Group, George Higginson, chief executive of Sesame Bankhall Group, and Andrew Power, lead Retail Distribution Review partner at Deloitte.