The number of advising staff working in financial advice firms fell 9% last year, according to figures put together for the Association of Professional Financial Advisers (APFA).
There were 23,865 advising staff last year, down from 26,339 in 2011 and 27,080 in 2009, APFA said after analysing data from the Financial Services Authority and research carried out by NMG Consulting. The average number of advising staff per firm has also fallen, down from 5.06 in 2009 to 4.66 last year. Last year's figure also represents a fall from 5.13 in 2011. However, the total number of financial advice firms registered with the FSA as at 30 September 2012 was up, rising to just over 14,000, an increase of 3% since September 2011. The consolidated revenue generated from regu...
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