More adults turning to IFAs with four million taking advice in 2022

Three‑quarters (74%) of advised adults used an adviser from a financial advice firm, such as an IFA. This meant that 6% (3.2m) of adults received advice at a financial advice firm in the last 12 months. The FCA noted in the report that "unsurprisingly" the use of regulated financial advice increases with wealth. It showed that almost one in three (31%) adults with investible assets of £100,000 or more had had regulated financial advice in the last 12 months, compared with just 2% of adults with less than £10,000. This comes after the Financial Services Compensation Scheme found ...