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 and intermediaries selling retail investment are of increasing importance to the retail investment product market (i.e. the market for investment products other than direct purchases of stocks and shares). The share of retail investment product sales via intermediaries and made with advice rose in 2019 compared with 2018.
This market data report considers the retail financial advice and intermediary market, covering regulated and unregulated advice offered to consumers when buying financial products or organising their financial affairs. It also considers intermediary non-advised product sales. The report assesses the size and structure of the market, recent trends, the future and sets out the environmental framework in which advice and guidance is offered today.