Almost two thirds (65%) of ValidPath Member IFA firms are targeting revenue growth of 20% or more in the next 12 months, ValidPath has revealed.

The independent financial adviser network said its latest research has shown "resounding optimism and ambitious growth plans" across the sector, with technology and AI being the area where firms most want support to get there.

The firm’s survey revealed that 19% of IFA firms are aiming for revenue growth of 50% or more in the next year, with this ambition sitting alongside 95% of firms who describe themselves as optimistic or extremely optimistic about the year ahead.

This includes 30% who feel extremely optimistic, and no respondents saying they were pessimistic.

ValidPath stated that confidence was strongest among firms describing themselves as in the early stages of growth, where 39% feel extremely optimistic. There are also the firms pushing hardest to grow quickly, with 85% are targeting revenue growth of 20% or more, and 36% aiming for 50% or more.

When asked where they would most value additional support, technology and AI adoption rank top, cited by 41%, which is more than double the next most popular answers, including growing the business and attracting new clients (15%), and regulatory compliance (15%).

AI is also cited as a topic of discussion, with 52% of firms stating that the future impact of AI on financial advice is one of the top factors shaping their outlook.

Group commercial director at ValidPath, Simon Black, stated: "These figures reflect just how confident and ambitious our Member firms are for the year ahead, with the vast majority backing themselves to grow over the next 12 months.

"Technology and AI adoption is clearly where firms want the most support right now. The firms with the biggest ambitions know they can’t get there simply by doing more of the same – the right tools, and the efficiencies they bring, will be central to how they scale.

"It’s a real vote of confidence in the sector, and where networks like ValidPath can help firms build the foundations to achieve the growth they’re targeting."

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