How many financial advisers are there in the UK? 

If you want an expert to help you save and invest for the future, achieve a financial goal, or manage your wealth, it may make sense to consult a financial adviser.

Here’s what you need to know about the UK’s financial advice market in 2026.

How many financial advisers are there in 2026?

There are currently around 31,000 financial advisers working with clients across the UK, according to the findings of the Financial Conduct Authority’s 2025 survey of financial advice.

That’s a figure that has remained relatively stable since 2021.

However, in that time, the number of financial advice firms has dropped by 15% to 5,500, suggesting ongoing consolidation in the market.

The survey found that around a third of the biggest financial advice firms would like to acquire another firm over the next two years.

Collectively, these 31,000 advisers are supporting 4.1 million clients and managing assets worth £1 trillion (assets under advice).

Why do people consult a financial adviser? 

People consult financial advisers for numerous reasons. 

You may want advice about investing for the future, planning your retirement or making your finances more tax-efficient. 

According to the FCA’s survey: 

• 69% of advisers’ clients want help with pensions and retirement

• 12% of clients are vulnerable in some way (this could include people in poor health, with caring responsibilities, cognitive impairment or low resilience for emotional or financial shocks)

• 88% of clients receive advice on an ongoing basis 

Diversity of advisers in 2026 

When you engage a financial adviser, you’ll want to make sure that you get along and feel comfortable talking to them. 

Gender

• One in five advisers under 50 is female, compared to one in 10 over 50 

• 29% of clients are female (31% female as part of a couple) 

Age 

• 50% of advisers are now under 50 and the proportion of advisers under the age of 40 has increased since 2023. 

Advisers have an average of 150 clients – each of which typically has around £250,000.

What can a financial adviser help me with? 

Financial advisers can help you with a range of financial concerns or challenges, including: 

• Saving for retirement 

• Setting up an investment plan 

• Consolidating pensions 

• Retirement income planning 

• Deciding what to do with a lump sum (for example an inheritance, life insurance pay out or redundancy payment) 

• Making the most of your money when your life changes, for example getting married or starting a family, moving overseas, retirement, getting divorced or widowed 

• Estate planning and inheritance tax 

• Buying a home 

When you talk to a financial adviser, they will be able to offer advice that is tailored to your needs and circumstances and make specific product recommendations. 

This is different to guidance, where you’ll be given information on the options that are open to you, but it won’t take your specific needs or requirements into account.

What are the different types of financial adviser? 

There are two types of regulated financial adviser in the UK. 

• Independent financial advisers: Offer advice on and recommend products from across the whole market (you may also see them referred to as whole of market advisers). 

• Restricted advisers: Only offer advice on products from a restricted range of providers. This may be from a panel of providers or limited to the products of the company they work for. 

You can also consult specialist financial advisers. You may, for example, choose an adviser that specialises in retirement income planning or estate planning, if you have very specific needs. 

If you’re buying a house or want to release equity from your home, you can also consult a specialist mortgage adviser.

How much does financial advice cost? 

How much you need to pay for financial advice will depend on a number of factors, including: 

• The nature of the advice you need 

• How long it will take 

• The amount of money involved 

If you require ongoing advice, your fee will usually be based on a percentage of the assets they are managing – typically between 0.5% and 1%. 

So, if you had a fee of 0.75% and a pension worth £250,000, you would pay £1,875. 

However, sometimes advisers may charge a fixed fee for a specific job – like arranging an annuity – or an hourly fee (expect between £100 and £350 an hour). 

Financial advisers must tell you upfront, how much you will need to pay for their advice. 

But many advisers will provide an initial consultation free of charge.

How do I pick the right financial adviser?

If you need financial advice, it’s a good idea to speak to several, to ensure you get the right fit for you. 

Before you make your choice it’s important to check the following: 

• Their qualifications: every adviser will need to have a baseline qualification but some may complete additional studies that reflect their specialist interests 

• Their regulatory status: you shouldn’t consult a financial adviser that isn’t regulated by the FCA 

• Their fees: be wary of any adviser that is unwilling to discuss their charges 

• Their areas of interest: if you have very specific needs, such as inheritance tax planning, you may need to consult a specialist adviser 

It’s also important to consider their communication skills – you need to understand their advice – and whether you get along. Sometimes financial advice means talking openly about your situation and your concerns, so you need to feel at ease with your adviser. 

Talk to a professional 

The right financial adviser can make a real difference to your finances now and in the future. 

And, by putting place a plan to achieve your financial goals, you’ll likely worry about money less too. 

But it’s important to think about what you need from your adviser and do your research to ensure they’re a good fit. 

Let Unbiased help you find the right financial adviser for you.