FCA data: Ten key advice market takeaways

Ten key facts about the financial advice business

clock • 2 min read

The latest data bulletin from the Financial Conduct Authority (FCA) gave a comprehensive overview of the state of the advice market in 2017.

Here are ten key facts about the financial advice business. 1. A total of 26,311 advisers are working in the profession. That represents an increase of 700 (3%) on 2016. 2. Almost 90% of the market is made up of firms with five advisers or fewer. Only 1% of the total number of firms had more than 50 advisers.   3. Revenues per firm were up year on year. Firms with six to 50 advisers reported the biggest increase in revenue, up from 21% to 24%. 4. Almost all (96%) advice firms made a pre-tax profit last year. Total pre-tax profits were up 23% from £569m in 2016 to £698m in 2012, ...

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 Regulation

Appointed representatives: Are you really in control of the risks?

Appointed representatives: Are you really in control of the risks?

'The FCA doesn't just want oversight, it wants evidence'

Paul Bruns
clock 06 October 2026 • 7 min read
Manchester City charges: Treasury Committee chair raises tax questions with HMRC

Manchester City charges: Treasury Committee chair raises tax questions with HMRC

As Tax Policy Associates points to potential £12m in unpaid tax

Jen Frost
clock 02 October 2026 • 2 min read
'Waiting for certainty can itself create the breach': When must a firm notify the FCA?

'Waiting for certainty can itself create the breach': When must a firm notify the FCA?

'A voicemail is unlikely to suffice'

Gareth Fatchett
clock 02 October 2026 • 5 min read