New platform business rose 43% year-on-year to £20.9bn for the fourth quarter of 2024 as recovery got under way, according to new data.

Four in five financial advice firms reported increased turnover in 2024, with two thirds anticipating higher profits in 2025, according to a new report.

New data revealing that ‘target market’ was the most crucial factor for MPS selection in 2024 suggests that Consumer Duty is having a considerable influence on adviser practice.

More than a third of advice firms believe there has been no progress towards the Consumer Duty’s products and services outcome.