Over four in five (84%) of financial advisers are prioritising business growth over the next year, according to a new report.

Advisers planned to grow their client base (84%) and assets under management (65%) according to research from adviser network Validpath.

Over half of the advisers of the advisers surveyed were targeting revenue growth of 30% or more, with 41% aiming for a 50% of more increase.

The research found that advisers were more positive about the outlook for their business than they were earlier this year with 70% of IFAs confident in comparison with 66% in February.

To support their growth plans the advisers surveyed were focusing on strengthening social media presence and marketing activity, leveraging introducer relationships, expanding their teams through the recruitment of additional advisers and support staff, and exploring client-book acquisitions.

Validpath added that across its network many firms were sharpening their focus on attracting younger, higher net worth clients to ‘future proof’ their businesses.

ValidPath is part of financial services and technology group Rimbal. Based in Cardiff it was set up as an FCA-registered IFA network in 2002. It serves a network of more than 100 financial advisory businesses and independent financial advisers, mortgage brokers and support personnel and their clients across the UK.

It says it is the only network with multiple FCA authorisations, a captive insurance company providing PII certainty, Open Banking permissions, proprietary network management technology and a funded succession solution for IFAs (an alternative to consolidation).

Validpath surveyed 54 independent advice firms between 17 and 24 June.

Our annual reader survey also found that Financial Planning firms are more confident this year than previously about the future for the sector.

This year almost three quarters (71%) of Financial Planners told us they felt positive about prospects for the profession, compared to 64% in 2024 and 45% in 2003.