This year, the number of bank and building society advisers recorded a continued drop, while the number of financial advisers saw a slight fall, revealed latest Financial Conduct Authority (FCA) figures.
According to the latest figures, the number of bank and building society advisers reduced by a further 11%, from 3,556 to 3,182 between January and October, reports Fundweb.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
This is in addition to the 23% drop between July last year and January, and is slightly over a third of the 8,658 bank and building society advisers operating at the end of 2011.
The number of financial advisers was down by 2% from 21,881 to 21,496 between January and October.
The number of discretionary investment managers declined by 5% from 1,787 to 1,698 during the same period.
The overall number of advisers decreased slightly from 31,220 in January to 31,153 last month.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
