Blackadders will continue to offer independent advice to all its clients, ensuring we provide the most suitable advice and solutions from the whole marketplace.
Independent Advice: Definition
An adviser who wants to use the term 'independent' must:
- Be able to consider and recommend products from the 'whole of the market', not just from a few select product providers.
- Provide unbiased and unrestricted advice, after fully researching and analysing the relevant market, and offering evidence to back up their recommendations.
- Inform clients at the outset that they are able to provide independent advice.
Restricted Advice: Definition
Where an adviser offers advice on products from a selected number of providers, or only considers certain types of investment products or services, then they don't look at the 'whole of market' and are therefore described as 'restricted' instead of independent. The adviser will need to point this out to a potential client at the first meeting, and explain the reasons why the advice they offer is restricted.