NextWealth’s The Future of Financial Advice report uses data and insights to highlight the disruptive forces that are determining the future shape of the retail financial advice market and predicts how financial advice will look in five years’ time.

We look at the business models that will thrive and publish a new segmentation model to describe the key differences between firms in a way that is more illuminative than size alone. Looking ahead to a market in which financial advice and planning services are delivered in a model that is more akin to other professional services sectors.

We talk about employee numbers to encompass all the staff that are involved in delivering the service, not just the regulated adviser numbers we have previously focused on as an industry. We consider small firms as those with up to 100 employees, rather than solely the many (and vital) micro businesses that make-up the long tail of advice firms. And lastly, we are beginning, with this report, to underscore the cultural divorce from models based on the control of client assets by instead shifting our focus to revenue earned from services delivered.

Who is the report for?

The report is designed to help financial advice firms, product providers, platforms and tech firms in developing roadmaps and in supporting business cases.

Methodology

This report is based on NextWealth’s deep understanding of financial advice businesses and the wealth management market. Drawing insights from:

• More than 30 in-depth dedicated interviews with a variety of business owners, industry consultants and the regulator
• Our on-going research into the retail investing market, bringing together analysis and insight from financial advice professionals, platforms and product providers.
• Analysis of FCA data and additional desk research.

You can read more about the report by completing the form and downloading the sample report. Or get in touch at enquiries@nextwealth.co.uk to purchase a full copy.

If you are a member of the NextWealth Research Panel, you can sign up for the webinar here.