Nationwide Financial Network, the sales and marketing arm of Nationwide Mutual Insurance, is telling its independent financial advisors to find their own broker-dealers rather than continue to trade through its own brokerage arm, Nationwide Securities, according to Investment News.

All of Nationwide's independent “personal-producing general agents,” who are financial advisors, must register with a new broker-dealer by 30 April, according to an e-mail sent out to all of its PPGA reps last week, the publication said.

Agents who want to continue to sell Nationwide products will have to do so through a “non-affiliated channel,” rather than go through Nationwide itself, the publication said.

The move is part of a larger effort by Nationwide to focus its distribution efforts on its proprietary sales force. The publication said the changes have been confirmed by a company spokesperson.