FCA advice market data reveals 2018 PI costs; advisers take £3.5bn in fees
Advice market in seven tables
The financial advice market in seven tables
The Financial Conduct Authority's annual retail mediation activities return has revealed advice firms paid an average 2% of their revenues on professional indemnity (PI) insurance premiums in 2018.
The FCA's data, which it collects every year from around 12,000 intermediary firms, revealed advice businesses that made less than £100,000 in annual revenue in 2018, which are likely to be 'one-man' bands,...
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