There were 286 fewer financial advisers advising on retail investment products in the year to December 2023. The number of firms fell 8.1% in the year. These numbers are based on the latest data from the FCA on the retail intermediary market.
Have you ever tried to make a cake using AI? Iā€™m guessing not. I try to invite AI to the table wherever possible. This idea was reinforced for me by Ethan Mollickā€™s excellent CoIntelligence book. Take it from me, the throat scratcher that came out of the oven would not win me a handshake from Paul Hollywood on the Great British Bake-off.
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.
