This year’s Financial Advice Business Benchmarks (FABB) report is the seventh in the series. We publish it free each year to give back to the financial advice community and share insights that help businesses navigate an ever-changing market.

Advisers tell us they use FABB to track how peers are evolving: pricing, the investment mix, staffing ratios and tech stacks. One outsourced paraplanning firm said they use FABB data in most recommendation reports and to help other advice firms benchmark, calling it “the best free report available”.

Our cover tradition continues with robots capturing the mood of the market: in 2023 sheltering under an umbrella during a time of tepid markets, rising interest rates and the new Consumer Duty, to surveying a brighter, growth-oriented path last year.

Growth remains a central theme. What’s new is the shift from coping with regulation to tuning the advice engine for the road ahead – improving outcomes for clients, businesses and advisers, and getting on the front foot.

Behind the benchmarks, financial advice professionals describe a rolling tune-up of the advice engine: standardising journeys, improving data fidelity, and wiring systems together. A flavour, in their own words:

“More standardisation… using reporting for client outcomes, rather than having it done to us.”

“Use of a new back-office system providing more accurate data.”

“Reviewing all charges and rationalising legacy charging structures into more simplified service levels”

“New data governance policy – centralised more information.”

Scale ≠ growth.

A word on growth ambitions. Not every firm wants to be bigger. Though with the reality of ageing client banks some firms tell us they need around 15% net new revenue just to stand still (one firm’s calculation, but a pattern we have heard echoed). Others aim to serve the same number of clients, better and more efficiently.

For firms seeking to reach more people, the fear is often losing the personal touch. A scalable advice engine protects quality by standardising the essentials (data capture, research steps, suitability evidence, review cadence) while preserving personalisation at the edges (goals, communication style), so advisers spend more time where judgment matters.

This report maps the advice engine across its five components: People & capacity, Clients, Business strategy & growth, Tech & efficiency, and Markets & regulation.

At the end of each section, you’ll find links to deeper dives: reports and guides with practical insight and case studies, and ideas for fine tuning your own advice engine.

I look forward to hearing your thoughts on the report.

Heather Hopkins, Managing Director at NextWealth

FAQ: Financial Advice Business Benchmarks (FABB) 2026 

What is the Financial Advice Business Benchmarks (FABB) report?
The FABB report, published annually by NextWealth, provides free insights to the financial advice community. It helps advice firms track market trends, benchmark performance against peers, and identify opportunities for growth, efficiency, and improved client outcomes. The 2026 report is the seventh edition in the series.

Who uses the FABB report?
Financial advice professionals, including advisers, paraplanners, and practice managers, use FABB to benchmark pricing, investment mix, staffing ratios, and technology adoption. Some firms incorporate FABB data directly into client recommendation reports to support evidence-based advice.

How does FABB help with technology and efficiency?
The report maps tech adoption across advice firms, highlighting areas like back-office systems, reporting tools, and data governance policies. By benchmarking technology usage, advisers can identify opportunities to improve workflow efficiency and client service.

How does the report support advisers in practice?
FABB provides actionable insights, case studies, and links to deeper guides to help firms fine-tune their advice engine. It empowers advisers to:

• Optimise workflows

• Standardise processes without losing personalisation

• Improve client outcomes

• Benchmark performance against peers

Can financial advice firms contribute to the FABB research?
Yes. Financial advice professionals can provide input for future reports, helping shape benchmarks and ensure the insights remain relevant and actionable.