I can hardly believe my screen

Dan Olley, chief executive of Hargreaves Lansdown, the UK’s biggest consumer investment site, said it was “essential that we keep things as simple as possible”.

James Carter of Fidelity International said “complexity destroys confidence” and that “further simplification is needed.”

Alastair Black, head of savings policy at Abrdn, said “the Isa brand has been stretched too far, with several competing Isa products acting as a barrier to entry.”

Hats off to the FT’s Emma Dunkley for rounding up the fund supermarket-eers. Apparently AJ Bell went so far as to write to the Labour party asking the new Government to rationalise choice.

So long as choice exists, there will be a market for advice to make sense of the choices. Increasingly, fund supermarkets are finding themselves cakeist. They want to present the consumer with every conceivable financial product but in doing so – they become a shop window with consumers nipping off to their IFA to be told what’s worth buying.

Some consumers walk into the fund supermarket and are paralysed by choice, walking out without buying sophisticated UK Equity funds and turning to MoneySavingExpert to get the best Cash ISA rate.

The fund supermarket-eers want to make it really simple for people to buy UK equity funds by enlisting the help of the Treasury and especially HMRC to shape the market.

It is true that a good few of these ISA products are totally useless for most people. The relaxation on the rules surrounding declaration of interest earned on non-ISA deposits means that most of us have no tax-liability to pay on cash (even now interest rates are back to normal).

Robin Powell has made a career pointing out that the simple best-selling financial products are the ones that cost least , give proper diversification and can be purchased without having to fill in a 40 page fact find. Step forward the global equity fund offered for a few basis points as an ETF.

For most people, for whom going to an adviser is akin to private medical insurance and private education, that is the Warren Buffet “non-advised” solution to wealth management.

Listening to Paul Lewis’ Moneybox on Saturday , there was another queue of consumers complaining that they were being turned away by financial advisers who said they didn’t have enough wealth to justify wealth management. Too right. That is precisely what they should be saying (consumer duty or not).

There are tricky problems that need the help of wealth advisers and those who have them have the money to get them sorted professionally. Meanwhile the fund supermarkets have got to work out whether they are a Gales or a Greggs.

If they want to compete for high end non-advised money then they need to make the shopping experience as lovely as Gails. If they want to pile it high and sell it cheap, they need to look to Greggs.

Right now , Hargreaves, AJ Bell , Fidelity and Abrdn need to work out whether there is a mass market of Sids, who can be persuaded to get stuck into home grown investment markets or not.

I suspect there isn’t. In which case – stacking the shelves with UK ISAs looks like a waste of footfall. What’s worse, if you turn from Waitrose into Lidl , you’ll end up sending your top-end customers to Marks and Spencer.

The top-end fund supermarkets serve a purpose and have been super-profitable to management and share-holders for many a year. Now, they are finding life a bit of a struggle and they are turning to Government to sort out consumer choice.

That really isn’t Government’s choice, at least when it comes to wealth management. What is needed are more Greggs.