The furore over Mr Severn's “no distinction between IFAs and tied agents” is, to me, completely mystifying.
We all have to give a “terms of business” document to all our clients to allow them to distinguish between between the types of representation they can expect.
My terms of business categorically state “Regulators' statement: your adviser independent or representative of one company.”
It cannot be more explicit. What is the argument all about? It gives the impression that there is a secret agenda to “get at the IFA”.
I have no doubt that the vast majority of IFAs are concerned that the client does get the best advice – in everybody's interest.
Only a complete fool would ignore all the press coverage that has been levied against us.
D Tudor Greaves
St David's Partnership