A new Landscape Report based on FCA Register data has revealed that 7,860 FCA-registered firms have deauthorised in 2025 alone. That’s almost 3,500 net exits in just eight months.
While headlines may focus on the “winners” — St. James’s Place, Quilter, and other large networks expanding adviser headcount — the real story is one of consolidation. Smaller advice firms are disappearing, absorbed into bigger machines or closing under the strain of regulation and cost.
What the numbers show
- 7,860 firms deauthorised this year to date
- Net 3,458 fewer firms on the Register than in January
- 521 investment advice firms and 285 mortgage firms left the market
- Adviser churn remains high: 3,100+ individuals moved firms in just eight months
- Restricted advice continues to shrink, but even “independent” firms inside the perimeter face structural pressure
The pattern is clear: regulation is squeezing out small players and driving economies of scale.
Why this matters for Holistic Wealth Planners
For those of us outside the FCA perimeter, these numbers don’t spell doom — they spell opportunity.
- A vacuum is opening. Consumers still need financial guidance, but the supply of independent advice is shrinking.
- Big firms ≠client empowerment. Larger networks often tie advisers to product sales, fees, and targets. Clients searching for real independence won’t find it there.
- Displaced advisers are looking for a new home. Hundreds of professionals each month are being shuffled between networks. Some are ready to break free from the treadmill.
The resilient alternative
Holistic, product-free financial planning offers what the regulated market struggles to provide:
- Independence: no ties to product providers
- Accessibility: guidance without the compliance overheads that price many out
- Stability: not subject to the boom-and-bust of regulatory churn
- Empowerment: helping clients build confidence and sovereignty over their money and lives
As regulated advice consolidates into fewer, bigger institutions, the space for transparent, purpose-led planning grows larger.
The AoLP position
At the Academy of Life Planning, we believe this is a pivotal moment. The industry is narrowing, but people’s need for clarity, support, and empowerment is expanding.
We exist to train, mentor, and support a new generation of planners who step outside the perimeter to:
- Serve clients holistically
- Guide them before, during, and after financial challenges
- Build practices that are ethical, transparent, and resilient
✅ Takeaway: The collapse in small regulated firms isn’t the end of advice — it’s the opening for a new era of Holistic Wealth Planners.
The Academy of Life Planning (AoLP) is the home of M-POWER — a global movement where citizens, planners, and allies unite to replace extraction with empowerment. Guided by the GAME Plan™, supported by AI, and strengthened through community, we are building a future of transparency, sovereignty, and shared prosperity.
 Visit our website today and join our tribe for free — be part of the change.
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