Towry has confirmed its investment service will be classified as restricted, rather than independent, post-RDR.
The firm says it will continue to offer the same advice and discretionary investment management service which is currently classified as independent under pre-RDR definitions.
Towry chief executive Andrew Fisher (pictured) says: “We have always supported the key objectives of the RDR and the benefits it will bring to clients, namely clear and transparent charges for advice delivered by highly qualified professionals.
“Towry will continue to provide expert financial advice on products we believe offer the most suitable solutions for our clients. Our advice will be amongst the most wide-ranging in the industry, with our team of experts researching and recommending products and providers based on meeting specific financial needs. We are not tied to or associated with any particular product providers and our advice will always be in the best interests of our clients.”
Towry says all its 150 advisers are all now Level 4 qualified, with over 50 per cent achieving Level 6 chartered status.