Independent vs restricted advisers

In a nutshell

An independent adviser (also known as an IFA) can consider and recommend a wide (unrestricted) range of investment products and providers.

A restricted adviser or firm can only recommend certain (restricted) products or product providers. Restricted advisers are legally required to disclose their restricted status to clients when offering advice.

The adviser or firm must tell you in writing whether they offer independent or restricted advice.

Sources

• Types of investment adviser – FCA