Where are the best locations to be a financial adviser?

The research by Yell Business has revealed that 35,448 finance and insurance businesses were started in 2021 - higher than in 2020, or even during pre-pandemic 2019.

An average of 13% more new businesses were founded each month in 2021 vs. 2019, with the finance and insurance industry contributing significantly.

The research also found that key areas to start-up a business in finance and insurance include Oxford, Falkirk, Llandrindod Wells, Kirkcaldy, and Gloucester.

The demand for financial advisers in Falkirk far outweighs the supply, with over eight searches per listed firm, providing an opportunity for any finance professional looking to go it alone.

Darlington and Dorchester came in second and third for the regions with the most demand for advisers.

Similarly, Llandrindod Wells, Kirkcaldy and Gloucester also showed significantly higher demand than supply for several other financial services such as insurance brokers and fund managers, making them equally strong contenders for anyone looking to set up a new business.

Claire Miles, CEO of Yell, commented: “With the challenges of the last two years, we might expect to find that fewer people were deciding to take the leap into the world of starting and running their own business. However, the data clearly shows that it has potentially inspired more people to take ownership of what they do for a living and finally make the dream of running their own business come true. 

"With the background of the pandemic and numerous economic and supply chain challenges, it’s really encouraging to see the entrepreneurial spirit of the UK is continuing to grow year on year. We look forward to working with some of these new business owners in the finance and insurance market in 2022, to help make their venture a success.”