Total revenue generated by retail investment adviser firms amounted to £8.38bn, according to data from the Financial Conduct Authority.
The FCA's Retail Mediation Activities Return (RMAR) data for 2025 found the total revenue was made up of £6.25bn from retail investment business, £1.81bn from non-investment insurance and £0.32bn from mortgages. Of the £8.38bn, £2.4bn came from commission, £5.88bn was from fees and £980m came from other revenue. Overall, the regulator found there were 4,294 advice firms and 26,435 advisers in 2025. Both have decreased since last year when there were 4,340 financial advice firms and 28,245 advisers. Of the firms providing retail investment advice in 2025, 88.1% provided e...
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