Tenet Group has made it to the number one spot of FTAdviser's Top 100 Financial Advisers list this year.
Each year, FTAdviser's Top 100 Financial Advisers list sets out to showcase some of the best financial advisory businesses working in the UK.
For the past five years, the list has been based purely on gross sales using data from our research partner Strategic Insight, formerly known as Matrix Data.
However, this year marks a new dawn for FTAdviser’s Top 100 Financial Advisers list as we have made significant changes to the methodology we use to rank businesses and based it on a greater volume of data received from Strategic Insight about these companies.
As a result, Tenet claimed the top spot this year due to a combination of their assets under management, the number of highly qualified individuals at the business and net retail fund sales.
This year list looks at a range of data and then uses an algorithm to figure out how different advice businesses are doing at recommending assets in different economic and interest-rate environments and how highly qualified advisers are.
We have introduced this formula to rank each advice firm because the quality of a business isn’t reflected just by how big it is in terms of number of advisers and therefore how much new cash it is bringing in.
Our research partner Strategic Insight used data received directly from fund managers covering 88 per cent of the retail investment market plus 17 of the nation’s biggest investment platforms to assist FTAdviser with producing this list.
As a result, this year the Top 10 Financial Advisers list features JLT Group in second place, Mazars Financial Planning in third place, Kerr Henderson Group in fourth position, Wilfred T Fry (Personal Financial Planning) in fifth place, Quilter in sixth, Raymond James Group in seventh, Brewin Dolphin Ltd in eighth, Foster Denovo in ninth and Tavistock Group came tenth.
But where do the likes of St James Place and Hargreaves Lansdown - who both made the top of the top 10 last year - appear in this year’s list?
Click here to see the full Top 100 Financial Advisers list and you can find out more about why some familiar names have moved up or down by clicking here.
For more information on how the Strategic Insight's data was used to produce this year FTAdviser Top 100 Financial Advisers list, click here.