The UK’s leading wealth managers now manage more assets than ever before. The pandemic has allowed for a reduction in spending, and desire to benefit from opportunities that were being presented in the market.
Results show that the average discretionary assets under management at leading UK wealth managers has jumped 58% since 2019.
The results from the 15th annual Private Client Wealth Management survey run by Savanta in partnership with the Financial Times, revealed the changes in assets under management, as well as further interesting trends on clients and advisors.
Results show that the average discretionary assets under management at leading UK wealth managers has jumped 58% since 2019. This compares to the number of advisors and clients staying roughly the same over the same period.
The growth in number of private clients has been consistent since 2016; there has only been a 5% increase in the last 5 years. In this same period, the ratio of advisors to clients has varied, particularly in the last year where we saw this figure grew from 1 adviser for every 124 clients in 2019, to 1:168 in 2021.
Whether this is solely driven by the pandemic remains to be seen, but with more being demanded of wealth managers by their ever wealthier clients, it is clear that they will have to react and adapt in order to keep serving client needs.
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