The Financial Services Authority is in the process of adopting a new definition of independent financial advice. It has written to all of the designated professional bodies (DPBs), including the Solicitors Regulation Authority, inviting them to adopt different definitions for their own purposes if they consider this to be appropriate.

The background to the FSA's letter is that its new definition equates independence with the ability to advise on every type of investment and investment wrapper, and some advisers to whom members of the DPBs have habitually referred clients ­in particular stockbrokers ­would cease to be eligible to receive client referrals if the DPBs were to adopt the new FSA definition.

What is striking is that the FSA definition of independence no longer accords with the dictionary definition of the term, which is also understood by consumers and which provides the basis for solicitors' own ethical principles ­namely being free from third-party influence.

I would respectfully suggest that this is the definition to which the SRA should revert.

Ian Muirhead, director, SIFA, Epsom