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Average annual adviser revenue reaches £165k

Research by Owen James shows that the average median revenue per adviser is £165,136 a year in the UK.

The firm’s latest adviser distributor performance benchmark report surveyed 100 advice firms, with 50 having turnover under £1m, 33 with turnover between £1m and £5m and 17 with turnover of over £5m.

The results show advisers at mid-sized firms have the highest median revenue of £212,800. At small firms, advisers have a median revenue of £128,200 and at big firms, the median revenue is £177,100. Mid-sized firms have the highest median salaries at £77,800 against £61,000 for the biggest firms and £56,900 for the smallest firms.

Small firms have the highest average top salary at £121,000 compared with £107,000 for big firms and £104,000 for mid-sized firms.

The most prevalent charging structure across all firms is fixed fees, which are used by 69 per cent of advisers. Bigger firms typically use a wider range of charging structures. Among big firms, 67 per cent charge a percentage of assets under management, 56 per cent offer a fixed fee and 33 per cent offer an hourly charge.

Of the mid-sized firms questioned, 73 per cent charge a fixed fee, 36 per cent charge as a percentage of assets under management, and 32 per cent offer hourly fees.

Of the small firms, 67 per cent charge fixed fees, 58 per cent charge as a percentage of assets under management and 33 per cent offer hourly fees.

Where hourly rates are charged, small firms average £176 an hour, mid-sized firms average £218 and big firms charge an average of £196 an hour.

Access Wealth Management partner Jim Clancy says: “A lot of advisers say they are charging a fee when they are offsetting commission.”



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There are 6 comments at the moment, we would love to hear your opinion too.

  1. It is one thing to say the average revenue per adviser is….£blah and a completely seperate one to say The average IFA has revenue of…. Even then because its average it will be skewed by the top companies. Typically I am never asked these kinds of questions because it would bring the figures down a bit!!! I dare say that is also true for most small IFAs. As for charging clients nearly £200.00 and hour…don’t think so.
    Statistics as always will tell you the cup is half empty or half full, I just want to earn a living please.

  2. I would love to be included in the research that was done. Infact, I would very much like to see just how these figures were made up. In my local area, most advisers are turning over gross £65-£85 k with the following expenses then needing to be deducted: FSA, PI fees etc; Compliance fees, back office software and research tools, admin staff, employee and public liability …..etc etc. According to my accountant – my salary was £22,000 this is the best year I have had in 10 years, started with No clients, my renewals are worth £50,000 and yes I do work full time. x

  3. How does the old saying go ” you can fool some of the people all the time” ? I wonder how many will still be fooled when commission offset is no longer an option ? some, no doubt, but hopefully not as many as now.

  4. I really do doubt these figures are a true reflection of what the average hard working full time IFA really earns. I for one earn nothing near those figures and know many IFAs who are in the same boat.

    Clients already have the perception that IFAs earnings are high and want advice on a free basis.

    I’m constantly reading negative views of IFAs and feel strongly it’s about time we were appreciated for the hard work and time we put into helping our clients.

    We need to change clients existing perceptions and to help them to understand why there are best served receiving advice from an IFA and redicolous articles like these will not help to change their current view.

  5. The FSA has conducted a BIAS since it was concieved by Gordon Brown as a instrument to dismantle IFA in favour of Banks.

    A FAT lot of good this had now being bailed out by us.

    The process is still going on with RDR

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