Autus Data Services has produced its latest Landscape report looking at the key numbers and trends in the regulated UK Financial Services market from the FCA Register and Directory data.
- The number of authorised firms has dropped 1.1% to 80,925 in H2 2022 while the number of individuals has increased 1.4% to 227,974.
- 5,320 firms have joined the FCA register in H2 2022 while 7,481 became de-authorised.
- There are currently 38,337 individuals licensed to provide investment advice and 35,324 licensed to advise on mortgages. Of these, nearly 9,000 are licensed for both investment and mortgage advice.
- Over 4,000 people have moved firm in the last 6 months. 928 of those moved from one advice firm to another and 626 from one mortgage firm to another.
- 12,935 have joined the Register/Directory for the first time in H2 2022
- Over 300 newly registered firms didn’t make it to their first anniversary, while nearly 3,000 didn’t make it to their fifth.
- True Potential had the largest increase in advisor numbers in the Wealth market segment, adding 90 in H2 2022. Tenet Connect continued to contract in size with a net reduction of 48 while Quilter Financial Services reduced by 32 following a decrease of 140 in H1 2022.
- St James’s Place remains the largest network with 4,922 advisors compared to Openwork’s 3,074.
- Mortgage Advice Bureau has extended its lead in the specialist mortgage market adding 30 registered individuals in H2 2022 to bring the total to 2,175.
- First Complete dropped by 60 registered individuals while Quilter Mortgage Planning shed a further 112.
To request your full version of the latest report, please click HERE