Schroders has suggested that IFAs should be required to provide clients with a minimum number of comparable products, when recommending investments.
The comments come as part of Schroders response to the Sandler review, which supports the maintenance of a strong independent advice market, but also advocates a degree of greater regulation in the IFA market.
Schroders also says it supports the creation of standardised performance data and comparative information for fund advertising, as suggested in the FSA taskforces report on past performance advertising.
Schroders director Robin Stoakley says: "It is imperative that the independence of advice can be guaranteed in order to instil investor confidence. A healthy IFA market also maintains competition in the product provider market and thats in consumers best interests."