Gap widens between best and worst performing IFAs

The study, which surveys the UK's top 1000 IFA firms, highlights the huge gap in the market place with 393 firms saying they have seen profits fall and one in five currently losing money. This is compared to 606 firms whose profits have increased compared to the same time last year, with some reporting margins of over 10%. The report shows overall profitability is slim, with most companies reporting profits of less than 5%. Meanwhile, 363 firms say they have seen sales decline by as much as 19% in contrast to 440 firms whose sales increased by around 15%. The study reveals the ma...