Private client assets pass £800bn for first time

Wealth management assets climb £49bn in a year

Private client investment assets surpassed £800bn for the first time in 2016, driven by appetite for discretionary services.

According to Compeer, assets managed or administered by execution-only stockbrokers, full service wealth managers, investment managers and private banks rose 11% from £742bn in 2015 to £826bn in 2016. The firm said in its annual report the bulk of this growth has been driven by assets invested in discretionary services, where assets climbed by £49bn from 2015 to 2016. Seven challenges for UK wealth managers Wealth management, which also includes investment managers and private banks, saw £84bn in inflows, primarily thanks to acquisitions in the sector. Non-managed assets rose st...