Advisers were paid £3.6bn in fees in 2020 - FCA data

£4.4bn in revenue

Sophie King
clock • 2 min read

The Financial Conduct Authority’s (FCA) annual Retail mediation Activities Return (RAMR) has revealed an small increase in total adviser fees.

The data, published on Thursday (29 July) and collected every year, revealed 5,017 firms were paid £3.66bn in fees, compared to a total £3.63bn in 2019. That compares to the 5,111 firms that existed in the market in 2019. In 2018, £3.52bn was paid in fees to 5,131 firms, a significant jump from 2017, where 5,048 firms were paid £3bn.  The regulator's data collection also found that, compared to 2019, reported revenue earned from retail investment intermediation fell by 1% to £4.4bn. Some £610m of that revenue was paid via commission, rather than standard fees and charges. The repor...

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