CONSOLIDATION, COVID-19, & CONCERNS FOR CONVEYANCERS IN 2020/21 Like most other legal services sector, COVID-19 has cast a long shadow over the residential conveyancing sector. • In 2019, the number of residential property transactions decreased by 1.2% on the previous year but there were signs of some recovery towards the end of the year. The recovery was continuing in the early part of 2020 but...
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Advisors generate £4.9 billion from retail investment activities In 2019, intermediaries and advisors offering advice on retail investments earned almost £5 billion in revenue. While volume sales of new investment products declined by 16% in 2019 compared with 2018, revenue from the provision of retail investment financial advice grew, because most advisors earn income from on-going charges rather than from on-off product sales. Moreover, advisors...
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Consumers Save and Invest almost £34 billion annually According to IRN’s latest report on the consumer savings and investment market (UK Savers and Investors 2020), at the end of 2019, UK households collectively held £3.7 trillion in non-pension financial assets, with their accumulated wealth having risen by almost 6% over the year. Consumers invested £33.5 billion net into non-pension financial assets in 2019, 9% more...
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