{"id":474445,"date":"2025-10-04T21:48:31","date_gmt":"2025-10-04T21:48:31","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/474445\/"},"modified":"2025-10-04T21:48:31","modified_gmt":"2025-10-04T21:48:31","slug":"800-advice-firms-among-8000-companies-de-authorised-by-fca","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/474445\/","title":{"rendered":"800 advice firms among 8,000 companies de-authorised by FCA"},"content":{"rendered":"

Almost 8,000 firms have been de-authorised by the Financial Conduct Authority over the past eight months, including 800 advice firms. <\/p>\n

Research by ISS Market Intelligence revealed 7,860 firms were de-authorised in the period, a drop of 2.8 per cent. <\/p>\n

It brings the total number of financial services firm to 70,131. <\/p>\n

Recommended
\n <\/p>\n

\"Recommended<\/p>\n

\u2018Regulation has hindered ability for industry to share simple information\u2019<\/p>\n

<\/a><\/p>\n

While the number of unique individuals also reduced, by 1.4 per cent, to 220,679.\u00a0<\/p>\n

The majority of firms de-authorised were in the credit broking space, but 521 offered investment advice, and 285 were in mortgage advice.<\/p>\n

On the other hand, 4,402 firms joined the register during the past eight months, making the net number of firms departing from the register 3,458. <\/p>\n

Of the 4,402 firms which joined the register, 442 offer investment advice and 409 provide mortgage advice.<\/p>\n

When it came to the 30 largest investment advice and mortgage advice the number of firms increasing their adviser headcount was almost equal to those reducing them. <\/p>\n

Quilter had the largest increase, adding 837 advisers during the eight months. <\/p>\n

While St James\u2019s Place<\/a> led the overall adviser headcount table and added 43 advisers in the last eight months.<\/p>\n

Openwork, which came after SJP, had almost half as many advisers and slightly reduced their adviser headcount.\u00a0<\/p>\n\n

Rank<\/p>\n

Firm Name<\/p>\n

Number of Advisers<\/p>\n

Change since Dec 2024<\/p>\n<\/tr>\n\n1<\/td>\nSt. James\u2019s Place Wealth Management Plc<\/td>\n5217<\/td>\n43<\/td>\n<\/tr>\n\n2<\/td>\nOpenwork Limited<\/td>\n2854<\/td>\n-5<\/td>\n<\/tr>\n\n3<\/td>\nQuilter Financial Services Limited<\/td>\n2078<\/td>\n837<\/td>\n<\/tr>\n\n4<\/td>\nTrue Potential Wealth Management LLP<\/td>\n1082<\/td>\n-1<\/td>\n<\/tr>\n\n5<\/td>\n2 Plan Wealth Management Limited<\/td>\n686<\/td>\n8<\/td>\n<\/tr>\n\n6<\/td>\nEvelyn Partners Financial Planning Limited<\/td>\n405<\/td>\n-9<\/td>\n<\/tr>\n\n7<\/td>\nBest Practice IFA Group Limited<\/td>\n404<\/td>\n20<\/td>\n<\/tr>\n\n8<\/td>\nFairstone Financial Management Limited<\/td>\n393<\/td>\n8<\/td>\n<\/tr>\n\n9<\/td>\nThe On-Line Partnership Limited<\/td>\n367<\/td>\n-15<\/td>\n<\/tr>\n\n10<\/td>\nHW Financial Services Limited<\/td>\n363<\/td>\n0<\/td>\n<\/tr>\n\n11<\/td>\nM&G Wealth Advice Limited<\/td>\n358<\/td>\n10<\/td>\n<\/tr>\n\n12<\/td>\nNew Leaf Distribution Limited<\/td>\n346<\/td>\n39<\/td>\n<\/tr>\n\n13<\/td>\nSense Network Limited<\/td>\n334<\/td>\n15<\/td>\n<\/tr>\n\n14<\/td>\nScottish Widows Schroder Personal Wealth Limited<\/td>\n330<\/td>\n-15<\/td>\n<\/tr>\n\n15<\/td>\nQuilter Financial Advisers Ltd<\/td>\n314<\/td>\n85<\/td>\n<\/tr>\n\n16<\/td>\nEvelyn Partners Investment Management Services Limited<\/td>\n285<\/td>\n8<\/td>\n<\/tr>\n\n17<\/td>\nSchroder Investment Management Limited<\/td>\n278<\/td>\n-1<\/td>\n<\/tr>\n\n18<\/td>\nValidPath Limited<\/td>\n265<\/td>\n65<\/td>\n<\/tr>\n\n19<\/td>\nMercer Limited<\/td>\n257<\/td>\n-13<\/td>\n<\/tr>\n\n20<\/td>\nQuilter Cheviot Limited<\/td>\n245<\/td>\n66<\/td>\n<\/tr>\n\n21<\/td>\nEvelyn Partners Discretionary Investment Management Limited<\/td>\n243<\/td>\n42<\/td>\n<\/tr>\n\n22<\/td>\nWesleyan Financial Services Ltd<\/td>\n241<\/td>\n-3<\/td>\n<\/tr>\n\n23<\/td>\nChase de Vere Independent Financial Advisers limited<\/td>\n226<\/td>\n-6<\/td>\n<\/tr>\n\n24<\/td>\nEvelyn Partners Securities<\/td>\n223<\/td>\n11<\/td>\n<\/tr>\n\n25<\/td>\nRaymond James Wealth Management Limited<\/td>\n220<\/td>\n-1<\/td>\n<\/tr>\n\n26<\/td>\nEvelyn Partners Investment Management LLP<\/td>\n215<\/td>\n23<\/td>\n<\/tr>\n\n27<\/td>\nTilney Discretionary Portfolio Management Limited<\/td>\n214<\/td>\n12<\/td>\n<\/tr>\n\n28<\/td>\nSuccession Financial Management Limited<\/td>\n209<\/td>\n6<\/td>\n<\/tr>\n\n29<\/td>\nAFH Independent Financial Services Limited<\/td>\n203<\/td>\n4<\/td>\n<\/tr>\n\n30<\/td>\nQuilter Financial Planning Solutions Limited<\/td>\n201<\/td>\n-18<\/td>\n<\/tr>\n\n\n\nSource: ISS Market Intelligence<\/td>\n<\/tr>\n<\/td>\n<\/tr>\n

Benjamin Reed-Hurwitz, head of research development, EMEA and North America at ISS Market Intelligence said: \u201cThe financial services industry is continually evolving and adapting.<\/p>\n

\u201cWhile keeping pace with developments across various areas of the market presents a significant challenge, it remains a key priority for sales and marketing teams aiming to succeed in the industry.\u201d<\/p>\n

The report also found that in the investment advice space,\u00a0most firms still prefer to offer independent, rather than restricted, advice. <\/p>\n

The number of restricted firms has dropped by over 25 per cent from 848 in 2016 to 632 in 2023.<\/p>\n

However, ISS said the picture is more complex, as large restricted firms with many advisers will only count as one firm.<\/p>\n

tara.o\u2019connor@ft.com<\/p>\n

What\u2019s your view?<\/strong><\/p>\n

Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Almost 8,000 firms have been de-authorised by the Financial Conduct Authority over the past eight months, including 800…\n","protected":false},"author":2,"featured_media":474446,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,474,14637,8370,157641,2499,16,15],"class_list":{"0":"post-474445","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-financial-conduct-authority","11":"tag-ft-adviser","12":"tag-iss-as","13":"tag-personal-finance","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115318103200760125","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/474445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=474445"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/474445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/474446"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=474445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=474445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=474445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}