Compiled in conjunction with Matrix Solutions, the rankings show the list of the biggest and most successful financial adviser firms in the UK, as indicated by sales of life and pension products.
At first glance, little has changed at the top of the list, with St James’s Place and Hargreaves Lansdown occupying first and second positions respectively.
However, Old Mutual Group, a new entrant this year, catapulted itself into third place following its acquisition of Intrinsic – which secured fifth place on last year’s list – in February this year.
The move brought together the network’s 3,000 independent and restricted advisers with OMW’s investment platform and asset management solutions.
Meanwhile, Sesame has slumped down the list by nine places from last year to 20th, following Sesame Bankhall Group’s decision to close the network for investment and pension ARs in March this year.
Another acquisition that took place earlier this year was Standard Life’s purchase of Skipton Building Society’s advisory arm Pearson Jones.
Last year’s survey marked a more settled period as advisers got to grips with the changes introduced by the RDR, which came into effect the previous year.
However, for the year the third quarter of 2014 to second quarter of 2015, the results show that despite turbulence in global equity markets, financial businesses have been able to record strong gross sales figures, and some have been able to build on their results from last year.
Pension freedoms have played a considerable role in many firms’ increase in gross sales.
Business restructuring appears to be another motif within the sector over the past year, as companies operating within the sector choose different avenues in a bid to bolster profits and one-up competitors.
The old saying ‘if you can’t beat them, join them’, is precisely what adviser firms have done.
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