SimplyBiz says it will not offer support for restricted advisers as it sees itself as the “champion of independent advice”.
Research conducted by the service provider in March suggests only 3-4 per cent of the company’s 5000 adviser members want to offer restricted advice.
The firm believes that remaining independent-only post-RDR will not be as challenging as some predict.
Simply Biz chairman Ken Davy says many nationals and networks could be forced into moving down the restricted advice route post-RDR but that his members are set on remaining independent.
He says: “We are determined to nail the myth that IFAs are not bothered about what type of advice they give, restricted advice will mean more expensive products and less choice. We want to make sure all our advisers have the right tools to offer independent advice.”