Majority of advisers say consolidation not in clients' best interest - research

'Less individualised financial advice'

Julia Bahr
clock • 2 min read

Some 73.5% of advisers believe the consolidation of the advisory market has not been positive for clients, according to a survey published by boutique investment consultancy Albemarle Street Partners.

The research drew on an adviser roundtable event hosted by Albemarle in December 2021 and a survey of 49 advisers, of whom most (71.4%) were business owners. It explored the challenges faced by independent advisory firms at a time when much of the sector is engaged in rapid consolidation. The survey revealed that 59.1% of advisers polled believed the main drawback of a more consolidated sector was a ‘weaker focus on the best interests of clients', while 28.5% said the main drawback was ‘less individualised financial advice'.  In terms of any benefits consolidation brings, 36.7% though...

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 Your profession

Advice firms report that around four in ten clients are vulnerable - MorganAsh

Advice firms report that around four in ten clients are vulnerable - MorganAsh

Data from the MorganAsh Resilience System

Jaskeet Briah
clock 28 May 2026 • 2 min read
Student loans present 'almost impossible' financial planning question

Student loans present 'almost impossible' financial planning question

To be a 'burden' for years to come, advisers say

Sophia Panayi
clock 28 May 2026 • 5 min read
Advice consolidation: Reputation, regulation and a transforming market

Advice consolidation: Reputation, regulation and a transforming market

Growth alone is no longer enough

Isabel Baxter
clock 27 May 2026 • 5 min read