The retail intermediary market

The Retail Mediation Activities Return (RMAR) is the core regulatory return submitted by firms who provide intermediary services arranging and/or advising on mortgages, non-investment insurance or investment products. 

The retail intermediary sector in 2017 

Our latest analysis of the retail intermediary sector and the underlying data tables:

Show Data Bulletin: June 2018 (PDF)

Download Data Bulletin: June 2018 – underlying data (XLSX)

Latest findings

  • £22.1 billion of revenue was earned by retail intermediary firms in 2017 from insurance, investment and mortgage mediation activities, compared to £20 billion in 2016.
  • Revenue from commission, as a proportion of total revenue for retail investment businesses, continues to fall. Commission accounted for 20% of total revenue in 2017, compared to 56% in 2013.
  • Over £300 million was paid by firms in Professional Indemnity Insurance (PII) premiums in 2017.
  • Firms providing retail investment advice had 2.8 million ongoing clients and provided 1.2 million initial/one-off advice services in 2017.

Key information

The RMAR is submitted by approximately 12,000 FCA-regulated intermediary firms that each year help millions of consumers to access key financial products – mortgages, insurance policies and retail investment products. Firms are required to report at least twice  a year for most sections of the return, based on their Accounting Reference Date (ARD), with 30 working days in which to submit the return.

Monitoring and analysing the data we collect via the RMAR helps us to supervise the activities of intermediary firms and to understand the nature and scale of their business.

We have published data from the RMAR since 2016 and we will continue to publish annually. We hope that users of the data find them a useful source of insight into the retail intermediary sector.

What is included in the data

The data we publish includes:

  • Revenue and profits
  • Number of advisers
  • Capital resource requirements
  • Professional indemnity insurance (PII) premiums
  • Retail investment advice provided and adviser charges

Understanding the data

The majority of data reflect the latest return submitted by the firm in the relevant calendar year. For the Profit and Loss account, we use data for the full financial year of account ending within the calendar year. Data for 2017 reflect firms that were on the FCA register as at 31 December 2017. This analysis is based on RMAR data as submitted by firms and has not been subject to systematic cleansing.

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If you have suggestions for data you would like to see included, please email us at [email protected].

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