Information on adviser firm numbers

Reference Case Number: FOI2025/00734

Freedom of Information: Right to know request:

Please provide the following information:

1. How many advice firms have cancelled their authorisation in each year from 2020 to 2024.

2. How many advisers operated on a restricted basis in each year from 2020 to 2024.

3. How many advisers operated on an independent basis in each year from 2020 to 2024.

4. How many advisers do not disclose restricted/independent information?

FCA response:

1. How many advice firms have cancelled their authorisation in each year from 2020 to 2024.

Year	Cancelled firms
2020	272
2021	260
2022	192
2023	378
2024	376
Total	1,478

2. How many advisers operated on a restricted basis in each year from 2020 to 2024

Excluding firms that give both restricted and independent advice:

Year	Restricted
2020	753
2021	717
2022	690
2023	651
2024	595
Total	3,406

Including firms that give both restricted and independent advice:

Year	Restricted
2020	845
2021	804
2022	773
2023	750
2024	666
Total	3,838

3. How many advisers operated on an independent basis in each year from 2020 to 2024.

Excluding firms that give both restricted and independent advice:

Year	Independent
2020	4,827
2021	4,854
2022	4,849
2023	4,640
2024	4,419
Total	23,589

Including firms that give both restricted and independent advice:

Year	Independent
2020	4,919
2021	4,941
2022	4,932
2023	4,739
2024	4,490
Total	24,021

4. How many advisers do not disclose restricted/independent information?

All firms disclosed the type of advice they give so we have instead provided the number of firms that indicated that they did not provide advice in the reporting period.

Year	Did not provide advice
2020	249
2021	267
2022	246
2023	244
2024	245
Total	1,251

Date of Release: 18/09/2025

Information on adviser firm numbers - September 2025

Freedom of Information: Right to know request:

FCA response:

1. How many advice firms have cancelled their authorisation in each year from 2020 to 2024.

2. How many advisers operated on a restricted basis in each year from 2020 to 2024

3. How many advisers operated on an independent basis in each year from 2020 to 2024.

4. How many advisers do not disclose restricted/independent information?

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