Consolidation, Planners, Value and Operating Models – key themes for 2023

MPS growing but costs falling, finds new NextWealth report

MPS is growing faster than the platform market and costs for clients are falling. These are two key findings of NextWealth’s latest MPS Proposition Comparison Report, designed to provide insights and trends into how the advice profession is managing client investments.

UK Back-Office Systems and the Future of Financial Advice

According to our most recent research, "Delivering Operational Leverage." The expected shift is expected to change the ratio of planners/advisers to clients from 1:94 to 1:250, as well as the ratio of fee earners to non-fee earners from 1:1 to 4:1. Improved efficiency through streamlined advising processes, improved proposals, and a movement in large financial advice businesses' culture towards revenue development are the main reasons behind this change.

Advice Fee Benchmarking: How do your fees compare to the market average?

NextWealth's analysis reveals the changing landscape, with a decrease in total client costs to 1.75%. Explore the breakdown of advice fees by component and understand why ongoing advice remains a significant part of client expenses. Uncover insights into initial advice fees and the adoption of subscription-based fee structures, offering valuable information to keep your financial strategies competitive and cost-effective.

Financial advice businesses are weathering the storm

The Financial Advice Business Benchmarks (FABB) report highlights significant trends and challenges in the financial advice industry.

Consumer Duty and the rise of the change agent