Over 60% of IFA firms 'strong' but 20% in trouble

A new study by industry analysts Plimsoll Publishing rated each of the UK's largest IFA firms into one of five categories based on their overall financial performance: Strong, Good, Mediocre, Caution and Danger. Firms in the 'strong' group saw their sales increase by 3.6% which Plimsoll describes as 'an impressive statistic in a market which is generally flat'. It says the sales rise demonstrate the strongest players' ability to take market share from their rivals. Profit margins for the stronger firms are sitting at an average of 10.3%, as they have cut costs and used competitive buying ...