The launch of fund supermarkets and online wrap platforms has made it easier for independent financial advisers to track clients' holdings and could free them to take on more customers.

Duuing the past decade, financial advisers have improved their services by introducing platforms that allow individuals to hold investments under one roof. The enhancement of internet capabilities has also helped them cross-sell investments.

This is good news for IFAs at a time when they are set to be banned from receiving commission for selling investment, pension and life assurance products from 2012, under rules announced by the Financial Services Authority.

The paying of commission has been blamed for a series of mis-sellings in the past 20 years, involving mortgage endowment policies, personal pensions and "precipice" bonds.

Under the new system, investors will be told upfront how much the advice is going to cost - and will be given the choice of paying it as a fee or having the cost deducted from their investment.

Crucially, the amount the adviser receives for recommending a product will be determined by the investor, not the product provider.

In the UK, the changes will affect all operators in the retail savings and investment industry. Independent financial advisers will have to advise on the full range of products, including exchange traded funds and investment trusts, and agree a fee with investors.