Number of smaller advice firms continues to shrink, analysis finds

'Costs of running an advice business on the rise'

Julia Bahr
clock • 2 min read
FCA data showed that the number of firms with over 50 advisers rose 17% from 35 firms in 2020, as consolidation within the financial advice market continued to narrow the number of smaller firms
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FCA data showed that the number of firms with over 50 advisers rose 17% from 35 firms in 2020, as consolidation within the financial advice market continued to narrow the number of smaller firms

Plymouth-based IFA business Continuum was just one of 41 firms with more than 50 advisers in 2021, according to the latest Retail Mediation Activities Return (RMAR) data revealed by the Financial Conduct Authority (FCA).

The research showed that the number of firms with more than 50 advisers rose 17% from 35 firms in 2020, as consolidation within the financial advice market continued to narrow the number of smaller...

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