The FSA has published final rules for depolarisation which will come into effect on December 1st.
The new rules remove the restrictions of polarisation and allow firms to offer advice from the whole of the market, from a limited number of providers or from a single provider.
The FSA expects this to result in more choice for consumers as firms that previously only offered advice on the products of a single provider will be able, if they wish, to expand their range of products.
FSA director of retail policy Dan Waters says: “This is a groundbreaking initiative which will encourage competition and innovation. The majority of customers use tied advisers, from branches of high street banks and building societies for example, and they can now be offered a wider range of products from a variety of providers. Essentially consumers will have a far greater choice.”