Figures published by the Financial Conduct Authority (FCA) show the number of authorised investment advice firms has roughly stayed the same over the last eight years.
Documenting the number of authorised firms listed under 'personal investment', the regulator said numbers had dropped from 5,367 in 2006-2007 to 5,295 as of 31 July 2014. The figures are based on the data the regulator collects from firms. Specialist advisers, such as mortgage advisers, are not considered in the 'personal investment' category. Investment advice firm numbers were highest in 2007-2008 when they stood at 5,576, and lowest in the year following the Retail Distribution Review (RDR) - 2012-2013 - when there were 5,199 authorised personal investment firms. The regulato...
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