Number of financial advisers in the United Kingdom 2016-2022

Published by Statista Research Department, Sep 18, 2023
The total number of financial advisors in the United Kingdom decreased overall from 5,746 firms in 2016 to 5,014 in 2022. This was mainly due to the decrease in restricted advisors. Independent advisory firms are companies that give personal recommendations based on a comprehensive and fair (unbiased) analysis of the relevant market. Independent firms made up the majority of financial advisors during the years displayed. As opposed to the number of firms, the total value of financial advisory charges in the country increased steadily since 2016.

Number of financial advisers in the United Kingdom (UK) from 2016 to 2022

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Release date

March 2023

Region

United Kingdom

Survey time period

2016 to 2022

Supplementary notes

The following classifications for independent and regulated financial advisors can be found in the FCA baseline report.:

* Independent advice is where personal recommendations given by a firm are based on a comprehensive and fair analysis of the relevant market and are free from bias.

** Restricted advice is where the personal recommendations provided do not meet the standards of independence, for example because the advice firm only recommends the products of one provider.

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