'Sector no longer in reactive mode': RMAR data paints stabilising picture

The Financial Conduct Authority's latest Retail Mediation Activities Return (RMAR) data for 2024 shows a sector still adapting to the after-effects of Consumer Duty, higher operating costs and a persistently challenging recruitment and economic market. While the headline pressures have not disappeared, the figures suggest a more stable pattern than the drop many firms experienced through 2023. Indeed, the picture pretty much remains the same as my article on last year's RMAR data on firms navigating extremely squeezed margins. Across most adviser segments, average pre-tax profit recov...