Value of financial advisory charges in the United Kingdom (UK) 2016-2023

The total value of financial advisory charges in the United Kingdom (UK) increased from almost 3.7 billion British pounds in 2016 to approximately six billion British pounds in 2023. This was despite the fact the number of financial advisors in the UK decreased during the same period.

Independent advisory firms are companies that give personal recommendations based on a comprehensive and fair (unbiased) analysis of the relevant market. Independent firms made up the majority of financial advisors during the years displayed, with charges to clients increasing to almost 3.7 billion British pounds in 2023.