Key facts
- The ten largest wealth firms in the UK now serve 89% of the discretionary client base.
- This market share has increased from 74% last year.
- Smaller firms are being acquired by larger competitors or private equity.
- Increased regulation and cost pressures are influencing consolidation.
- The top 10 wealth management firms represent 89% of clients.
- Asset share for these firms has slightly dipped.
- Firms are focused on growth and efficiency through M&A.
The ten largest wealth management firms in the United Kingdom now collectively serve 89% of the discretionary client base. This figure represents a significant increase from the 74% market share these firms held in the previous year. This trend of consolidation is largely attributed to smaller firms being acquired by larger competitors or private equity firms. These acquisitions are occurring in an environment marked by increased regulatory scrutiny and mounting cost pressures within the industry.