News & Insights
FINANCIAL TIMES: Time to look for a wealth manager?
26 June 2023, Chris Curtis
The article discusses the challenging investment environment affecting UK private wealth managers. As a result, the balanced portfolios of wealthy investors suffered an average fall of 10% in 2022. ARC data shows that even the lowest-risk portfolios fell by 7.6%, while balanced accounts dropped by 9.1%, and equity-heavy high-risk ones by 11.4%. With increasing financial uncertainty and recent changes in pension tax rules, more people are seeking financial advice, potentially bringing new clients to wealth management firms. Meanwhile, despite difficulties, larger wealth management groups are expanding organically and via takeovers.
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