Data shows increase in profit margins for IFAs & mortgage brokers
New data released by company and market specific financial analysis provider Plimsoll Publishing Limited has revealed an increase in average company profit margins for independent financial advisors and mortgage brokers in the UK.
The latest figures show average company profit margins for IFAs of 6.5% for the current year – up from 6% last year.
Prior to last year, the industry had witnessed a slump in average profit margins, with figures having dropped to 3% only two years ago.
The increase in average company profit margins has been replicated in the mortgage broker industry over the past year. Latest figures show average profit margins of 5.3% for mortgage brokers in the UK, up from 4.2% last year.
The figures are taken from independent market analysis of 1,600 industries by Plimsoll Publishing, which is constantly updated with the latest data from Companies House.
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