Autus Data Services’ latest landscape report shows that over 5000 firms have joined the FCA register in 2022

by | Jan 19, 2023

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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.

Highlights include:

  • 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

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