Independent versus restricted financial advice

Independent vs restricted financial advice

Many are unaware of the benefits of cash flow planning and how it can help them to outline their finances into the future.


Like many things in life, a professional third-party opinion can help you to make important decisions and this is the same with financial advice.

The formulation of a suitable financial plan can help you to achieve both your financial objectives and lifetime ambitions. Research from Royal London found that over a 10-year period, those who sought financial advice were more than £47,000 better off.

There are, however, two different types of financial advice and people often are not aware of this. These are independent financial advice and restricted financial advice, both of which have different permissions and rules governing how they are able to help with your financial planning.

We will discuss this further in this article but regardless of the type of advice offered, each financial planner has to obtain the same minimum level of qualifications and be approved to provide advice.

Independent financial advice

Independent financial planners review the entire market and consider all types of retail investment products. They have access to a variety of products, platforms and investments. A good, well resourced, independent financial planner will conduct thorough research to recommend solutions which best meet your needs and objectives. These will then be incorporated into your strategy, known as a financial plan.

The benefit of this is that they will recommend a solution which suits you, rather than one they may have a financial interest in.  If you pay for an ongoing service, they will undertake ongoing research and recommend changes where appropriate.

Restricted financial advice

A restricted adviser does not have the same scope when it comes to researching and selecting from the whole of market. Their recommendations will be made from a small number of products and providers. Often, the solutions they recommend will be ones they have a financial interest in, have control over, or their company has entered an agreement with.

This does not mean the solutions they recommend are unsuitable for you, but it does mean there might be better solutions available in the market.

Restricted firms are not allowed to use the word ‘independent’ to describe the advice they offer.

Does Lucas Fettes Financial Planning offer independent or restricted financial advice?

We are fully independent. Our recommendations are based solely on the financial needs and objectives of our clients, in support of their desired lifestyle outcomes.

Over time, we have built up long-standing relationships with the providers and investment managers we work with. Through these relationships we are able to select ‘best of breed’ solutions for our clients and where possible negotiate preferential terms.

As a Chartered firm we have an experienced and well qualified advisory team supported by qualified technical staff undertaking ongoing research using market leading systems and technologies.

This ensures that at the point of initial advice, and on an ongoing basis, our clients can be confident they are best placed to achieve their desired outcomes.   

How can we help you?

Whether you are new to financial planning or looking for a change in financial planner, we can help. Our team take the time to understand your circumstances, objectives, and aspirations before making suitable recommendations.

If you would like to discuss your financial planning requirements, or if you wish to arrange an initial no cost, no obligation, consultation, then please fill out the contact form below. Alternatively, you can call 01603 706 820 or email

Important information

This article is solely for informational purposes and nothing in it is intended to constitute advice or a recommendation. 

While considerable care has been taken to ensure this information is accurate and up-to-date, no warranty is given as to its accuracy. This article constitutes a financial promotion.

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