Introducer firms have hit the headlines for all the wrong reasons as of late. With a shrinking advice sector and an ever-increasing demand for advice, Hannah Godfrey asks, are unregulated introducers more trouble than they're worth for the reputable adviser?
Latest data from the Financial Conduct Authority (FCA) suggests there are 5,270 financial advice firms, and 25,952 advisers. Those who have been in the industry a while will know these numbers are not impressive. It is well documented that the market is considerably less crowded than in years gone by; the number of advisers has shrunk from some 250,000 in 1988 to less than a tenth of that today, and studies suggest that a third of existing advisers plan to retire in the next decade. With fewer young advisers coming into the industry and many older advisers filtering out, those active...
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