These guidelines apply to all licensed financial advisers and exempt financial advisers.

They provide guidance to financial advisers on when they may use the term “independent” in the name,  description or title under which they carry on business in Singapore, promote or advertise their services, or in relation to their provision of any financial advisory service.

The guidance includes:

• Basic test for independence.
• Influence of commissions and other benefits.
• Impairment by direct or indirect product restrictions.
• Relationship with the product provider.