The average basic salary for a financial planner in the UK rose by 3 per cent to a record £80,129 in 2025, analysis from Paul Harper Search has shown.

Almost half (49 per cent) of financial planners received a basic salary in excess of £80,000 in 2025, up from 42 per cent in 2024.

The study also revealed that financial planners’ average total earnings rose for the 12th year in a row to £110,946, with 61 per cent of financial planners earning more than £100,000.

However, average total earnings only rose by 1 per cent in 2025, the smallest annual increase ever recorded by the analysis.

London continued to have the highest average basic salary and total earnings, with basic salaries rising by 23 per cent in 2025.

Total earnings increased in all regions except the Midlands, where there was a 5 per cent year-on-year decline in 2025.

Last year also marked the first time that the gender pay gap in total earnings was “effectively closed”, with women earning an average of £111,100 compared to £111,664 for men.

Between 2021 and 2025, female financial planners' total average earnings rose by 45 per cent, while male financial planners saw an 18 per cent increase.

Meanwhile, consolidation has continued in the financial advice market as the number of authorised financial advisers increased despite a fall in the number of advice firms.

Paul Harper Search highlighted that the number of authorised financial advisers increased by 1 per cent year-on-year to a record-high 28,245 at the end of 2024.

However, over the same period, the number of advice firms declined by 7 per cent to 4,340.

The largest 1 per cent of firms now employ 53 per cent of all advisers, emphasising the accelerating dominance of large, multi-adviser businesses.

Meanwhile, firms with six to 50 advisers declined by 1 per cent to 517 in 2024.

In 2024, there were 1,950 firms with only one adviser, down by 9 per cent from 2023, which marked the second largest decline since 2018.

Furthermore, the number of firms employing between two and five advisers also fell, by 6 per cent to 1,820.

The report noted that rising adviser productivity was materially changing hiring behaviour, with firms being more cautious about recruiting inexperienced advisers and putting greater emphasis on infrastructure and support functions.

“Consolidation remains the defining structural force,” said Paul Harper Search managing director, Paul Harper.

“Succession challenges, regulatory pressure and the cost of investing in technology and infrastructure are driving many smaller firms towards sale or partnership.

“Buyer appetite remains strong for high-quality, well-run businesses, with valuations holding up at the top end of the market, while firms with weaker fundamentals continue to face slower deal processes and materially lower multiples.

“Alongside these financial trends, adviser priorities are shifting. The 2026 Job Satisfaction Survey shows that while pay remains the important or most important factor to almost all respondents, decisions are increasingly influenced by work-life balance, culture and benefits.

“Flexibility has become a baseline expectation, benefits are a growing driver of mobility, and hiring cycles have accelerated as confidence and adviser movement increase.”

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