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The survey of 271 advisers, also found 52 per cent had seen an increased turnover of at least 5 per cent in 2019 and 30 per cent reported an increase of more than 10 per cent.
The survey showed increased industry optimism in 2019 despite advisers having to contend with rising costs and a growing regulatory burden throughout the year, with 85 per cent of respondents reporting an increase in operational costs over the previous 12 months.
These included staffing costs, professional indemnity insurance, reporting and regulatory concerns, and rising technology costs.
rachel.mortimer@ft.com
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