Compeer: Wealth management assets near £1trn after slow start to the year

Saw slower revenue and profits

Assets in the wealth management industry are approaching £1trn, reaching an all-time high of £980bn during the third quarter of 2018, according to a survey by Compeer, although rising costs led to falling revenues.

The quarterly survey by benchmarking firm Compeer, which covers wealth managers and execution-only stockbrokers, found assets rose 0.5% during the third quarter from £975bn to £980bn.  This was divided between £783bn in the wealth management industry and £197bn from execution-only stockbrokers.  Compeer said this was an "impressive result" after a disappointing start to the year when assets reduced by 1.6% from £958bn to £943bn as a result of stockmarket declines. Wealth managers need to adapt to changing demographics in the UK However, this year's third quarter revenues decreas...