London (11 August, 2026) – The number of people working in the UK advice sector held steady over the past six months, even as more than 2,300 firms left the market, new data from ISS Market Intelligence (ISS MI) reveals. ISS MI, part of the ISS STOXX GmbH group of companies, is a leading provider of data, analytics, insights, media, and events solutions to the global financial services industry, today announced the release of its latest FCA Register and Directory Analysis, The Landscape Report.
The Landscape Report is an in-depth analysis of FCA-authorised firms and advisers, helping readers to understand the size, structure and evolving dynamics of the Investment, Mortgage, and General Insurance markets. The latest issue reveals that total advice firm headcount fell just 0.4 percent in the first six months of the year despite a 3.4 percent dip in the number of firms on the FCA Register and Directory.
The data shows that there were a total of 218,957 individuals working across 67,007 firms at the end of June after 3,107 firms and 9,074 individuals joined the FCA Register during the first six months of 2026.
During this period, more than 2,800 individuals changed firms, highlighting the continued movement taking place across the financial services sector.
The analysis reveals that while thousands of firms and individuals continue to enter, leave and move within the UK advice market, the overall structure of the industry remains remarkably consistent.
The split between the type of advice individuals on the register offer, meanwhile, has remained fairly stable. There are now 31,105 Investment Advisers, 7,772 Holistic Advisers, 28,033 Mortgage Advisers, and 44 Corporate Financers on the FCA Register. Increases occurred in the Investment Adviser (+145) and Mortgage Adviser (+417) categories. This may hint at a trend toward further specialisation and is something that ISS MI will monitor over the coming months and years.
Despite this activity, many of the largest organisations in the market retained their positions. St. James’s Place, Openwork and Quilter Financial Services remained the three largest investment advice firms by adviser headcount, while continuing to occupy the top three positions among adviser networks.
This report also found that adviser movement largely remained within existing market specialisms, with more than 1,000 individuals moving from one investment advice firm to another during the period.
Mark Hamper, Head of Strategy and Business Lead, at ISS Market Intelligence UK, commented: “The FCA Register continues to be one of the most dynamic datasets in financial services. The unending changes of the firms and individuals across the industry create a constant challenge for organisations trying to maintain an accurate view of their target market. What’s particularly striking is that despite this ongoing churn, many of the largest firms and networks continue to maintain their positions, demonstrating a level of stability beneath the surface activity.”
The report also examines developments in the general insurance market. Automotive Compliance Limited became the largest specialist general insurance firm by number of registered individuals, overtaking previous leader ITC Compliance Limited. Meanwhile, ITC Compliance retained its position as the largest general insurance network.
ISS MI’s analysis shows that while the overall number of firms and individuals fell, the average number of registered individuals per firm across the key general insurance segments remained broadly unchanged during the first half of 2026. This suggests a stable operating environment despite continued movement across the wider register.
Hamper concluded:
“Whether firms are looking to identify new opportunities, monitor competitors or maintain accurate sales and marketing databases, understanding market movement is increasingly important. The challenge is knowing who is on the FCA Register today and keeping pace with the changes taking place across thousands of organisations and individuals.”
Copies of the Landscape Report are available to download from ISS Market Intelligence at: https://www.issmarketintelligence.com/solutions/marketsage/the-landscape-report/
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About ISS Market Intelligence
ISS Market Intelligence (MI) is a leading provider of data, insights, and market engagement solutions to the global financial services industry. ISS MI empowers asset and wealth management firms, insurance companies, distributors, service providers, and technology firms to assess their target markets, identify and analyse the best opportunities within those markets, and execute comprehensive go-to-market initiatives to grow their business. Clients benefit from our increasingly connected global platform that leverages a combination of proprietary data, powerful analytics, timely and relevant insights, in-depth research, as well as an extensive suite of industry-leading media brands that deliver unmatched market connectivity through news and editorial content, events, training, ratings, and awards.
About ISS STOXX
ISS STOXX GmbH, through its group companies, is a leading provider of comprehensive and data-centric research and technology solutions that help capital market participants identify investment opportunities, detect qualitative and quantitative portfolio company risks, and meet evolving regulatory requirements. With roots dating back to 1985, we today deliver world-class benchmark and custom indices across asset classes and geographies and serve as a premier source of independent corporate governance, sustainability, cyber risk, and fund intelligence research, data, and related offerings. Our products and services give clients the scale and leverage they need to grow their business more effectively and efficiently. ISS STOXX, which is majority owned by Deutsche Börse Group, is comprised of more than 3,800 professionals operating across 30 global locations in 20 countries. Its approximately 5,500 clients include many of the world’s leading institutional investors who turn to ISS STOXX for its objective and varied offerings, as well as companies focused on ESG, cyber, and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS STOXX’s expertise to help them make informed decisions to benefit their stakeholders.
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