Over recent years, there has been much sound and fury over whether independence is best and restricted the devil’s choice of advice proposition. Some two years on from RDR, I thought it might be worth reflecting on what has happened and the reality of what advice firms need to do in the future to meet clients’ needs.
Firstly, I should make clear that these are very much my personal, evolving thoughts. Sense is and will remain a champion of independent advice. Nevertheless it is vital that we have a reasoned and considered debate on the future of our profession and, if nothing else, I do hope that my thoughts stimulate some real discussion.
My original objection to restricted advice was based on nothing more than the reality that those adopting the model were doing so for their own interests rather than their clients.