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

Most cash ISA holders 'could be persuaded' to switch to stocks and shares

Most cash ISA holders 'could be persuaded' to switch to stocks and shares

Royal London report finds

Sahar Nazir
clock 09 October 2025 • 2 min read
More than half of Brits want IHT abolished

More than half of Brits want IHT abolished

An increase on last year

Sahar Nazir
clock 09 October 2025 • 2 min read
Regulation, consolidation and the future of the adviser nation

Regulation, consolidation and the future of the adviser nation

‘It’ll all be ok in the end’

Paul Bagley
clock 09 October 2025 • 3 min read