Compeer: Wealth management assets surpass £1trn in Q2

Total revenues up 2.4%

Assets in the wealth management industry exceeded £1tn in the second quarter of 2019, representing a 2.7% growth in assets, according to a survey by Compeer.

The quarterly survey by benchmarking firm Compeer, which covers wealth managers and execution-only stockbrokers, reported that the growth in assets meant there was an improvement in total revenues, which were up 2.4%. It said the industry had "bounced back significantly and quickly" since the dip in values on the back of the market crash at the end of 2018. Execution-only stockbrokers achieved revenue in excess of £200m for the first time due to strong growth in trade volumes, and a pick-up in custody and admin fees and treasury income. A 1.8% increase in assets resulted in executi...