Financial adviser numbers are continuing to decline and this must be reflected in lower regulatory fees for those who remain, the Association of Professional Financial Advisers (APFA) has said.
Based on individuals holding the CF30 function who had a primary category "financial adviser" under Financial Services Authority stipulations, APFA said there were 20,453 individuals operating as of 31 December 2012. APFA said the figures provided an update on a report it published in March, which found adviser numbers dropped from 26,339 at the end of 2010 to 23,865 by the end of 2011. Between 31 December 2010 and 31 December 2012, the total number of financial advisers across the market with investment permissions fell from 44,556 to 31,132. APFA said the latest figure comprises ...
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