Finance insurance statistical tool fresh information.

The nostalgia is already setting in among Britain’s army of independent financial advisers. Nostalgia for a time when their role was protected in the marketplace.

But independence won’t be so prominent under these new rules on giving advice.

NEW ADVICE RULES Own brand - One range of pensions investments and insurance Limited brands - Choice from a small panel Any brand - IFAs should look for the best deal

Banks and building societies will be offering their own brand financial products, a range of pensions, investments and insurance as they do now.

But if they want they’ll also be allowed to offer a limited selection of brands. And this is the big change. It will look like choice but in reality the choice will be from a small panel of export finance and insurance
.

And that will compete directly with what’s on offer from independent financial advisers, who should be looking for the best deal for a customers by scouring the whole market.

Barclays is one of the few institutions that’s indicated it will move to the new middle way of giving advice, where it is tied to a small band of investment providers, or multi-tied as the jargon goes.

Bradford & Bingley is unusual for a big player in that it gives independent financial advice, but it’s planning to change to the new limited option, and a number of smaller financial advice firms are following suit.

A sign perhaps that the age when independence ruled is coming to an end.

Most will be announcing which way they plan to go over the next few weeks.