PA360 North: Advice firm decline slow despite consolidation

‘There is a small decline in advice firms, but not as quick as you expect’

Isabel Baxter
clock • 1 min read

Despite the rise in consolidation currently in the market, the decline in advice firms is not going as quickly as expected, delegates heard.

Speaking at PA360 North yesterday (4 October), Benchmark Capital senior business development consultant Dan Fairweather shared data that showed there were 5,429 advice firms recorded in the UK in 2022, only a 5% decline since 2016. With this data in mind, Fairweather believes the decline of advice firms in the market is "not as fast as you may expect". He added there are 157 acquirers in the market currently and 51% of business owners are looking to sell or exit in the next five years. Firms Fairweather identified as having acquisitions as a ‘core' strategy included Ascot Lloyd, St...

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