Advisers were paid £3.6bn in fees in 2020 - FCA data

The data, published on Thursday (29 July) and collected every year, revealed 5,017 firms were paid £3.66bn in fees, compared to a total £3.63bn in 2019. That compares to the 5,111 firms that existed in the market in 2019. In 2018, £3.52bn was paid in fees to 5,131 firms, a significant jump from 2017, where 5,048 firms were paid £3bn.  The regulator's data collection also found that, compared to 2019, reported revenue earned from retail investment intermediation fell by 1% to £4.4bn. Some £610m of that revenue was paid via commission, rather than standard fees and charges. The repor...