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

£4.4bn in revenue

clock • 2 min read

The Financial Conduct Authority’s (FCA) annual Retail mediation Activities Return (RAMR) has revealed an small increase in total adviser fees.

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...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Adviser / Broking

Advisers see rise in client anxiety ahead of Autumn Budget

Advisers see rise in client anxiety ahead of Autumn Budget

Royal London research findings

Jenna Brown
clock 22 October 2025 • 3 min read
Six ways to make income protection the no-brainer

Six ways to make income protection the no-brainer

"Your tone should reflect leadership, not persuasion"

Ash Borland
clock 22 October 2025 • 4 min read
COVER Women in Protection and Health Awards 2026: Open for nominations

COVER Women in Protection and Health Awards 2026: Open for nominations

Deadline 14 November

COVER
clock 16 October 2025 • 1 min read