How much do IFA networks charge?

Most networks charge a percentage of the revenue you generate, typically between 10% and 30% depending on turnover, the level of support taken and what is negotiated. Some networks add fixed monthly fees, professional indemnity contributions or technology charges on top of the revenue share.

Which is the largest IFA network in the UK?

By appointed representative firm numbers, St. James's Place Wealth is the largest with 2,655 AR firms according to Network Consulting's Q2 2026 league table, followed by Primis with 1,018, Stonebridge with 736, Quilter with 677 and HLPartnership with 574. By advisers per firm, Mortgage Advice Bureau leads with an average of 9.8.

Should I join a network or become directly authorised?

Joining a network as an appointed representative gives the lowest regulatory burden and fastest route to trading, with compliance, professional indemnity and provider access handled for you. Direct authorisation means keeping all your revenue but carrying your own compliance function, PI cover and authorisation costs. Because network fees are usually a percentage of revenue, direct authorisation often becomes more cost-effective above a certain turnover.

IFA Networks UK: What They Do, What They Cost, and How to Choose One

Q: What is an IFA network?

An IFA network is an FCA-authorised firm that takes regulatory responsibility for other advice businesses operating beneath it as appointed representatives. The network holds the permissions and carries the regulatory liability, and provides compliance oversight, professional indemnity cover, provider and platform access, technology and training. In exchange the appointed representative gives up a share of revenue.

If you are weighing up joining a network, leaving one, or going directly authorised, the decision usually comes down to three things: what you give up in revenue, what you get back in support, and whether the network will still be there and stable in five years. Here is how the UK network market actually looks right now.

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What is an IFA network?

A network is an FCA-authorised firm that takes regulatory responsibility for other advice businesses operating underneath it. Those businesses become appointed representatives — ARs — of the network. The network holds the permissions, carries the regulatory liability, and provides the infrastructure: compliance oversight, professional indemnity cover, provider and platform access, technology, file checking and training.

In exchange, the AR gives up a share of revenue and a degree of independence over how they operate. Roughly two thirds of UK advice firms operate as appointed representatives, with the remaining third directly authorised.

What networks cost

Most networks charge a percentage of the revenue you generate. Typical arrangements sit somewhere between 10% and 30%, with the exact figure depending on your turnover, the level of support you take and what you negotiate. Some networks layer on fixed monthly fees, PI contributions or technology charges on top.

The thing advisers underestimate: a percentage-of-revenue charge scales with you. A 20% network fee on £150,000 of income is £30,000 a year — considerably more than the cost of running your own compliance function. That is why successful firms often reach a point where direct authorisation becomes cheaper. It is also why the right answer changes as your business grows, rather than being a decision you make once.

The largest networks by AR firm numbers

The figures below come from Network Consulting's Q2 2026 league table. They cover networks with mortgage permissions, which is why several wealth-led names appear alongside mortgage specialists — the large groups operate across both.

Network	AR firms	Movement (year to date)
St. James's Place Wealth	2,655	−100 (158 left, 58 joined)
Primis	1,018	−33
Stonebridge	736	+29
Quilter	677	−8
HLPartnership	574	+26

Who is growing

Size and momentum are not the same thing. Beyond the top five, ValidPath added the most firms of any network in the table — a net 40, up 14.4%. Ingard Financial posted the highest percentage growth at 28.8%, and White Rose Finance Group grew 12.2%. Among the largest names, only Stonebridge and HLPartnership grew; St. James's Place, Primis, Quilter and Openwork all shrank.

At the other end, Connect IFA lost a net 28 firms, down 12.7%, and Dragon Brokers recorded the sharpest fall in the table at 42.5%.

Adviser density tells a different story

Counting firms flatters networks full of one-person businesses. Counting advisers per firm shows which networks attract established practices. Mortgage Advice Bureau leads clearly with 9.8 advisers across each of its 200 AR firms — 1,963 advisers in total. John Charcol averages 5.2, Openwork 4.4 across 536 firms, JLM 3.7 and Sandringham 3.2. The average across the whole table is 2.1.

Network, appointed representative or directly authorised?

Join a network as an AR

Lowest regulatory burden and fastest route to trading. PI, compliance and provider access are handled. You pay a revenue share and accept the network's panel, process and technology.

Join an existing AR firm

You get the network's infrastructure plus an established local business, leads and admin. Terms vary enormously between firms even within the same network.

Go directly authorised

You keep 100% of revenue and answer to the FCA yourself. You also carry the compliance function, PI cover and the cost and time of authorisation. Usually makes sense above a certain turnover.

What to actually ask a network before you sign

What is the total cost of membership? Not just the headline percentage — fixed fees, PI contributions, technology charges and any minimum.
Is the fee tiered? If it stays flat as you grow, model what it costs you at double your current revenue.
Who owns the clients? The single most important question, and the one that causes the most disputes on exit.
What are the exit terms? Notice period, restrictive covenants, what happens to your back book and whether ongoing servicing income transfers.
How many firms joined and left last year? The league table above is public. Ask them to explain their number.
How restricted is the proposition really? Some networks describe themselves as independent but operate a narrow panel in practice.
What is the file-check turnaround? Slow compliance directly limits how much business you can write.
Who is the owner, and what is their five-year plan? Consolidation is active in this market. Networks get bought, and terms change.

A note on choosing by size

Bigger is not automatically safer. The largest network in the table lost more firms than anyone else this year, while several small and mid-sized networks grew strongly. What matters far more is whether the proposition fits how you actually want to advise — panel access, technology, the level of compliance intervention you can tolerate, and whether the people running it are the sort you want to be tied to commercially.

Where AR Recruitment comes in

We recruit across IFA practices, wealth managers, networks and appointed representative firms, which means we speak to advisers moving in both directions — into networks and out of them. If you are considering a move, we can tell you how a particular firm or network is regarded by the people who have actually worked there, and what the terms tend to look like in practice.

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Network membership figures are from Network Consulting's Q2 2026 league table as reported by Mortgage Solutions, covering networks holding mortgage permissions. Fee ranges are indicative of typical market terms rather than any specific network's published rates. Last reviewed August 2026. This page is general market information for advisers considering their career options and is not regulatory or financial advice.