Defaqto says it is welcoming Which? research exposing advisers that are misleading researchers about the range of products they offer.
The Which? investigation found that 48 per cent of tied advisers working mainly for banks and building societies suggested to customers they could offer more product choice than they do.
Defaqtos own research shows the main reasons for people visiting IFAs were to obtain impartial advice and to have access to a wider range of financial products and it also revealed that 6.2m people plan to visit an IFA over the next 12 months.
Defaqto sales and marketing director Neil Morgan says: Our belief is that advisers should be able to recommend the best products for their clients from the widest choice available. IFAs using our Aequos Engage and Online, not only have the means to select from the entire market, but also have the benefit of a built-in compliance process.
“We tend to find that banks and building societies do not use professional research tools to the same degree to demonstrate the quality of their products against the rest of the market.