FCA data: Ten key advice market takeaways

Here are ten key facts about the financial advice business. 1. A total of 26,311 advisers are working in the profession. That represents an increase of 700 (3%) on 2016. 2. Almost 90% of the market is made up of firms with five advisers or fewer. Only 1% of the total number of firms had more than 50 advisers.   3. Revenues per firm were up year on year. Firms with six to 50 advisers reported the biggest increase in revenue, up from 21% to 24%. 4. Almost all (96%) advice firms made a pre-tax profit last year. Total pre-tax profits were up 23% from £569m in 2016 to £698m in 2012, ...