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Peter Williams sparks independent versus restricted debate

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Peter Williams sparks independent versus restricted debate

Former Aegon head of industry development Peter Williams has reignited the debate over independent and restricted labels, arguing the Financial Services Authority’s (FSA) definition of independent was still open to debate.

Speaking at the Personal Finance Society (PFS) conference Williams said he was ‘uncomfortable’ with the FSA’s definition because it was still open to interpretation.

Williams (pcitured), a non-executive director of the Beaufort Group, said that he expected the firm to continue trading as independent firm but would be considered a ‘restricted whole of market’ label.

Paul Lothian Verus Chartered Financial Planners, said: ‘We’re not too precious about the title, so we’re probably falling in that passive restricted space because we won’t recommend unregulated collective investment schemes or structured products.’

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