Call our team on
020 8394 0954
Presenting at the Money Marketing Retirement Summit, Lewis maintains restricted advisers are still often linked with a sales culture, and that the status was often unclear over service provided.
Lewis adds that restricted advisers may still recommend unsuitable esoteric investments.
Lewis says: “I would never, ever, ever recommend, interview, have on my programme, a restricted financial adviser, under almost all circumstances. The problem with restricted advice is there are two sorts: the ones who are restricted because they work for a company or they only recommend half a dozen companies, and the ones who are restricted because they only do one thing very, very well.
He says: “That distinction between the two halves of restricted advice, created by the FCA, is what causes the real problem. But because you can’t make that distinction easily, you have to say never, ever, ever go to a restricted adviser because they can’t advise you. Many of them are just there to sell you something.”
Restricted advise firms include St James’s Place, Hargreaves Lansdown, Towry and Barclays.
If you would like to contact us, please click here: contact us >>
Colin is a Chartered Financial Planner & Pension Adviser Of the Year Read more >>
Posts by Colin Caulfield (190)
Your email address will not be published. Required fields are marked *
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Secure your financial future and ensure your investments continue to grow at their maximum potential. Find out more >>
Call 020 8394 0954 Email info@MantleFP.com
Stoneleigh Office: 77-79 Stoneleigh Broadway, Epsom, Surrey KT17 2HP
Whitton Office: 115b, High Street, Whitton, Twickenham TW2 7LG
Mon - Fri 9am - 5.30pm
Can't find what you're looking for?