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Advice firm numbers rising to pre-RDR levels

The number of regulated advice firms has almost recovered to pre-RDR levels, data published by the FCA shows.

The data shows that as of 31 July 2014, there were 5,295 regulated personal investment firms. This is up by 1 per cent on the 5,229 advice firms in 2013/14.

In the run up to the RDR, the number of advice firms fell from 5,429 in 2009/10 to 5,237 in 2010/11. In 2011/12, there were 5,330 firms.

The FCA has not published details on the number of individual advisers.

The latest figures on individual adviser numbers show there were 21,881 advisers in January 2014, up by 1 per cent from 21,684 in July 2013.


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There are 5 comments at the moment, we would love to hear your opinion too.

  1. I wonder if these figures take into account advisers who have left networks to set up on their own. A better picture would be how many advisers there are now compared to before RDR

  2. Probably more to do with people being regurgitated within the industry, X bank, X network IFA’s etc etc etc setting their own business ?

    Still good news I should start to see my fees reducing !!!

    Ppfftt, I can here Martin Wheatley now ” not before we pay ourselves our delayed bonuses” !!!

  3. 21684 ( of which say 40% are over 50) Each adviser 200 clients Only 4,336,800 people in the UK can be given proper financial planning advice.

    Each client pays an average of £2,000 a year that is fee income of £400,000 Most advisers work 50 hours have weekend off

    Can some one tell me why so many university graduates go into Law and Accountancy . Work over 18 hours a day 7 days a week to find out at 50 they will flat line because they are stopped by an older generation who cannot retire as they still paying the school fees and do not want to take a reduction in lifestyle

    Why go in to a profession like that when they could have a great and rewarding career as a certified financial planner help the client using the six stage of financial planning.

    Even though I am 61 If I had my time again I would still be an financial planner

    Hopefully I have good health and subject to regulator permitting to practice ,as my friend Francis Klonowski always states to continue advising clients

  4. James, I can’t work out whether your comments are ‘tongue in cheek’ in reference to each adviser generating an average of £400 k per annum of income. Is it ‘tongue in cheek’, or do you know it to be a fact that on average financial advisers generate this level of income, or are you merely describing your own personal income level?

    I left one of the largest networks at the end of last year and they were dead chuffed that the average income generated per adviser from ‘regulated activity’ had risen to £58 k per annum. Please share your secret, as I think I must be doing something wrong, as my income is a lowly £80 k

  5. Christopher Petrie 8th October 2014 at 6:03 pm

    58k is simply nowhere near enough turnover to be an IFA.

    There would be virtually no profit on that amount of t/o. Anyone doing that level of fee income would be well advised to get a different job.

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