Tuesday, 04 December 2012 16:09
Towry announces restricted offering post-RDR
Towry has announced it will be offering restricted advice on retail investment products post-RDR.
The firm said the service it provides to existing and potential clients will remain unchanged and it would continue to offer a full financial advice service and discretionary investment management.
However, it said: "The company will continue to focus its research on those products that it believes will offer the best solutions for its clients and target clients. By focusing its research in this way, its service will be classed as 'restricted' under the new FSA regime."
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Towry has been charging fees for the past six years and all of its advisers are Level 4 qualified while over half are Level 6 qualified.
Chief executive Andrew Fisher, said: "Towry has for many years championed the move away from a commission-based culture to charging advice fees and we have used a fee-based model for the past six years.
"We are not tied to or associated with any particular product providers and our advice will always be in the best interest of our clients."
Towry manages £4.5bn in discretionary client assets and employs 650 people in 18 offices nationwide, including 150 financial advisers.
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The firm said the service it provides to existing and potential clients will remain unchanged and it would continue to offer a full financial advice service and discretionary investment management.
However, it said: "The company will continue to focus its research on those products that it believes will offer the best solutions for its clients and target clients. By focusing its research in this way, its service will be classed as 'restricted' under the new FSA regime."
{desktop}{/desktop}{mobile}{/mobile}
Towry has been charging fees for the past six years and all of its advisers are Level 4 qualified while over half are Level 6 qualified.
Chief executive Andrew Fisher, said: "Towry has for many years championed the move away from a commission-based culture to charging advice fees and we have used a fee-based model for the past six years.
"We are not tied to or associated with any particular product providers and our advice will always be in the best interest of our clients."
Towry manages £4.5bn in discretionary client assets and employs 650 people in 18 offices nationwide, including 150 financial advisers.
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
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