Consolidation deals in the UK IFA sector climbed almost a third in five years, rising from 50 deals in 2020 to more than 115 in 2022 and peaking at 133 in 2025.

Private equity investor Bain Capital has taken a £120m stake in adviser network the Openwork Partnership, one of the UK’s biggest advice networks with 4,800 advisers.

The UK IFA market saw a surge in M&A activity in April, according to a report from investment and advisory firm Heligan Group.