What is a restricted financial adviser?
Restricted does not mean unregulated. It means the adviser limits the products, providers or areas they consider in some way.
What does restricted mean?
A restricted adviser does not consider the whole relevant market in the same way as an independent adviser. The restriction can relate to products, providers or the type of advice offered.
Ask exactly what the restriction is
The word 'restricted' alone does not tell you whether the limitation matters for your problem. Ask what the adviser cannot consider and how that affects the recommendation you may receive.
Does restricted mean lower quality?
No. It describes scope, not competence. A restricted adviser can still be highly experienced and properly regulated, but the scope should be transparent.
Compare the whole proposition
Look at regulation, specialist experience, client fit, service, fees and the practical effect of the restriction before deciding.