Small adviser firms worst hit as industry contracts-research

Katrina Lloyd
clock

Firms with only one or two advisers were the worst hit during the six month period to mid April 2009 as economic pressures took their toll, according to new research from threesixty.

The support services group found the market for firms with investment permissions contracted by 5.6% from 11,646 to 10,991 over the six months. This included both directly authorised firms and those within networks. However, most significantly hit were firms with one or two advisers, which shrunk ahead of the average at a rate of 6.4%. Firms with more than 24 advisers dropped by just one – from 98 to 97 during the same period. Phil Young, partner at threesixty, comments: “Whilst there are various reasons why small IFA businesses are reducing in number, it is a trend which we expect to...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Wren Sterling adds £900m AUM with London-based IFA acquisition

Wren Sterling adds £900m AUM with London-based IFA acquisition

Evans Hart brings nearly 2,500 clients to the group

Sahar Nazir
clock 12 December 2025 • 2 min read
Demand for entry-level talent forces expansion of Nucleus-backed We Are Change scheme

Demand for entry-level talent forces expansion of Nucleus-backed We Are Change scheme

Foundation reports rising demand for entry-level routes into financial services

Sahar Nazir
clock 12 December 2025 • 2 min read
'Mounting anxiety' from Autumn Budget leading to more financial advice enquiries

'Mounting anxiety' from Autumn Budget leading to more financial advice enquiries

Enquiries for financial advice up by nearly a quarter following Budget

Sahar Nazir
clock 11 December 2025 • 1 min read