Directly authorised numbers fall as networks continue to attract advisers

‘The DA market is shrinking’

Isabel Baxter
clock • 3 min read

The number of directly authorised (DA) wealth advisers has fallen by 12.5% between 2020 and 2025 as more turn to joining a network instead, research has found.

Information collected from a recent Freedom of Information request, submitted to the FCA by Network Consulting, found that the number of all DA retail advice firms that operate in mortgages, wealth and or both has reduced overall by 18%, a total difference of 1,853 firms. Firms that hold both wealth and mortgage permissions by contrast have declined by 25% since 2020, the findings revealed. Wealth only firms have experienced a sharp drop of around 20% over the same period. Source: Network Consulting Network Consulting found that adviser numbers tell a slightly different story....

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

Advisers: Are you even taking your own advice?

Advisers: Are you even taking your own advice?

Exploring the expenditure consolidation conversation

Nick Ryan
clock 25 March 2026 • 4 min read
CISI welcomes 76 Certified financial planners

CISI welcomes 76 Certified financial planners

Number of UK CFP professionals continues to rise

Sophia Panayi
clock 24 March 2026 • 1 min read
'Nobody is big enough not to be bought'

'Nobody is big enough not to be bought'

Roderic Rennison on the future of deals in the advice industry

Isabel Baxter
clock 20 March 2026 • 1 min read