Mortgage brokers enjoyed earnings of £1.39bn in 2019, a rise of 6 per cent on the £1.31bn earned in 2018, says the FCA.
A third of this – £464m – came from selling non-investment insurance products.
The regulator also provides a breakdown of the number and size of mortgage brokerages. Overall, it says, there are 14,575 staff advising on mortgages, which is a 4 per cent increase on 2017.
In terms of type of firms, smaller ones dominate: there are 800 with just one adviser and 583 firms that count two to five. At six to 50 advisers the FCA count 186, and there are just 27 with over 50 advisers.
However, nearly 10,000 advisers work at those 27 (making up 67 per cent of all advisers), with 2,400 at six to 50 number companies.
The average regulated revenue for a firm with one adviser came in at £59,153, for two to five advisers, £200,237, at those with six to 50 advisers, £1.2m, and for the biggest firms, £36.9m.
The average regulated revenue per adviser thus ranges from £59,153 to £102,042.
