94% of UK adviser firms in profit but overall revenue drops

Almost all of UK financial adviser firms (94%) reported making a profit last year, although total pre-tax profits are down to £808m from £872m in 2018, according to research published by The Financial Conduct Authority (FCA)  The UK regulator has published findings from its latest consultation into the UK retail intermediary market in 2019, pointing to the importance of small firms, a decrease in investment advice revenues and a continued reliance on commission for mortgage and insurance b...