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Ingledew in call for IFAs to drop independent tag

Berkeley Berry Birch deputy chief executive Stephen Ingledew believes IFAs should drop their independent tag.

He says the “blinkered” approach to regulated advice forces IFAs to try and cover all bases rather than focusing on advice.

Ingledew believes clients are already in an environment where it is difficult to tell the difference between an independent and tied adviser. After CP166, he says the marketplace will be populated by advisers wearing “grey” hats and working simultaneously as tied and independent advisers.

He said: “We have rather missed the point about providing a fully comprehensive service for clients. Don&#39t believe that independence will be a differentiator – it will not be. And I don&#39t think we will want it to be. It will be impossible to operate like this.”

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