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UK Financial Advisors 2019: Trends, Concerns, and Opportunities

UK Financial Advisors 2019: Trends, Concerns, and Opportunities

  • March 2020
  • 52 pages
  • ID: 5879466
  • Format: PDF
  • GlobalData
Up to $2588 off Until Dec 10th 2020


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UK Financial Advisors 2019: Trends, Concerns, and Opportunities

In many respects, the UK financial advisor market is in strong shape: average revenues are up and the number of active advisors continues to grow.However, the effects of significant consolidation are beginning change the structure of the market.

The number of financial advice firms is declining, and while the vast majority of players are still small outfits the number of larger players with over 50 advisors is on the up.This trend looks set to continue in the future.

Unsurprisingly, Brexit is the chief concern of financial advisors at present, both for the uncertainty it brings and the looming prospect of a financial downturn.Even so, the long-term opportunity in the market is strong, with the aging population bringing consistent growth in a core target market - the over 65s.

There is also ample scope to engage more with younger investors, who are far less likely to arrange investments through financial advisors than their older counterparts.

This report is a comprehensive analysis of the UK financial advice market, with a focus on key issues affecting IFAs and their businesses.It provides an overview of the UK IFA competitive landscape, analyzing advisor numbers, business models, and industry consolidation trends.

It also examines the key demographics accessing financial advice and the factors driving usage; identifies threats and opportunities for IFAs trying to expand their business; analyzes the impact of Brexit and MiFID II on the UK financial advice industry; and examines factors influencing IFAs’ choice between independent and restricted models. The report draws from our proprietary 2019 UK IFA Survey and our 2019 Banking and Payments Survey.

- There were 5,246 financial advisor firms active in the UK market in 2018 - a drop of 35 players on 2017. This decrease was mostly felt among mid-sized firms of two to five and six to 50 advisors.
- 74% of advisors see the opportunity in targeting younger consumers. Auto-enrollment and the planned introduction of the Pensions Dashboards should help drive engagement with long-term planning.
- Of the financial advisors that use a platform, 85% work with three or more providers. Competition in platforms is strong, with more than 30 active players. Many believe the sector is ripe for consolidation.

Reasons to Buy
- Understand which segments of the UK investment market offer the highest growth potential.
- Identify the main pain points of IFAs to engage with them effectively.
- Discover what is driving consolidation in the UK IFA market to understand how you can benefit from trends.
- Learn how IFAs choose their partners and product providers to increase your penetration of the market.

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