IFAs anticipate lower turnover in 2023 but optimism remains

A third of IFAs expect their business turnover to drop this year as a result of higher expenses, volatile markets and lower fees.

Source: Lang Cat

Indeed, 94 per cent of the 605 advice firms surveyed for the report said they are consistently adding new clients to their books.

Instead, the anticipated drop in turnover is attributed to higher business costs due to inflation.

Higher operating costs

Nearly nine in 10 IFAs expect their operating costs specifically to rise in the next six months, according to separate research . . .