February 18, 2016
Wealth management typically caters to the high-net-worth individuals (HNWI) segment and is generally handled by the private banking arms of banks or by wealth management firms. The UK wealth management sector has seen substantial activity on multiple fronts in the past three years: regulations, technology, increasing client base as well as their AUMs, multiple mergers and acquisitions.
This sector is poised to see better growth with several surveys and factors pointing to the UK to be the most favored destination for wealth management.
The private clients’ AUM market in the UK has seen a growth of CAGR 10.4% between 2020–2014 and is expected to grow at a CAGR 9.3% to reach £1.1 trillion by 2019.