Research from data firm Matrix Solutions has set out the latest shifts in adviser numbers one year on from the RDR.
The latest update of Matrix’s observatory report on financial advisers shows the number of authorised investment intermediaries fell by 0.1 per cent between December 2013 and January 2014, from 23,811 to 23,778.
Between December 2012 and January 2014, the number dropped by 0.6 per cent, from 23,923 to 23,778.
The decline has been greater among those directly authorised, with the number of appointed representatives holding steady.
The number of DAs fell by 1.5 per cent between December 2012 and December 2013, from 11,845 to 11,665.
Between December 2013 and January 2014, the number increased slightly to 11,701. Comparing January 2014 and December 2012, the number fell by 1.2 per cent.
The number of ARs, meanwhile, has remained flat.
In January 2014 there were 12,077 ARs, which compares to 12,078 in December 2012. The number rose slightly in December 2013, to 12,146.