Polarised adviser firms report record profits and losses

The latest Plimsoll Analysis, which profiles each of the UK's top 1,000 IFAs, found average profit margins have fallen to 13.5% of sales, compared with 15.1% year on year. It also found that 262 of the UK's top 1,000 IFAs are now running at a loss.  Some 129 of these companies are now considered to be a high financial risk, and for 96 they are in the red for a second year running. On average these companies are losing -3% on sales meaning that every £1 of sales is costing them £1.03 to deliver. However, the same study has revealed 192 businesses are making record profits, with an aver...