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(MoneyNewsWire.Net, December 12, 2015 )
Wealth in the UK: Competitive Dynamics 2015 Size and Share Published in 2015-11-30 Available for US$ 3450 at Researchmoz.us
Description
Wealth in the UK: Competitive Dynamics
Since the introduction of the Retail Distribution Review (RDR) in 2012, the UK wealth management competitive landscape has been undergoing a steady evolution. New business models have emerged as both new and old players seek ways to cost-effectively serve retail, mass affluent, and cost-conscious high net worth (HNW) individuals. A steady stream of direct-to-consumer (D2C) propositions have been launched in the market in 2015, ranging from simplified advice services to robo-advisor offerings and execution-only propositions. With the Financial Conduct Authority (FCA) and HM Treasury launching a consultation into access to advice, we believe this trend will continue into 2016 and beyond.
Key Findings
UK wealth manager activity is concentrated in London and South East England. This is unsurprising, as these regions are home to nearly a third of all UK-based HNW individuals.
The market leader in terms of assets under management (AUM) is St. James’s Place, followed by Coutts and Barclays. The AUM of the top 20 UK wealth managers grew by around 8% year-on-year between 2013 and 2014.
Merger and acquisition (M&A) activity has largely been driven by increasing consolidation in the independent financial advisor (IFA) segment, with competitors with acquisition-led growth strategies (such as AFH Financial Group, Attivo Group, and Bellpenny) accounting for a major share of the 2015 M&A activity.
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To reach retail and mass affluent customers a number of wealth managers are launching or developing their simplified advice service platforms. Examples include EQ Investors, Charles Stanley, Investec, and Towry.
The advice market continues to be a key focus for the FCA, which published guidance in 2015 on boundaries
concerning regulated investment advice and is currently seeking views on how simplified advice and robo-advice could help close the advice gap.
Synopsis
Verdict Financial’s “Wealth in the UK: Market Dynamics” report is a comprehensive analysis of UK’s wealth management markets.
What else does this report offer?
Overview of the market structure by business model and client thresholds
Competitor rankings by AUM
Analysis of key regulations relevant to wealth managers, including: the FCA’s guidance on retail investment advice, MiFID II and RDR
Insight into the competitive landscape: M&A, new entrants, departures
Key trends in product and service developments: new D2C propositions, mobile wealth
Reasons To Buy
To find out the latest wealth manager rankings and benefit from the AUM data for 20 biggest competitors.
To understand the key pieces of regulation and their impact on the wealth managers, such as MiFID II and the new guidance on simplified advice.
To gain insight into the latest product and service trends, such as low-cost simplified advice services and wealth management apps.
Make an Enquiry: http://www.researchmoz.us/enquiry.php?type=E&repid=488242
Table of Content
Executive Summary
Key findings
Critical success factors
Market Structure
UK wealth managers use a wide range of business models
Family offices and private banks keep investment thresholds high
Wealth managers are concentrated in London and the South East
The UK’s top wealth managers continue to grow their books
Discretionary investment thresholds remain stable among the top 20
Regulatory Trends
The advice market continues to be a focus of FCA regulation
The boundaries of regulated advice were clarified following FCA guidance
The FCA also launched a consultation with HM Treasury to improve access to advice
For UK wealth managers RDR has largely paved the way for MiFID II
HNW clients have welcomed fee transparency
The FCA is in the process of implementing MiFID II
The permanent non-domiciled status will be terminated in 2017
The change in non-domicile rules will have an impact on family offices
The FCA has sought to address effective and compliant communication
Wealth managers now have more guidance on social media
The FCA introduces informal steer for faster advice and a regulatory sandbox for fintech companies
More generally, the FCA is increasing accountability in the financial services sector
Business conduct and culture are key issues in encouraging compliance
New rules on whistleblowing will be launched in 2016
Firms will have increased responsibility over their staff under the Senior Managers Regime
The largest fines in 2015 were imposed for misconduct in the foreign exchange and IBOR markets
The FCA and the PRA have launched new remuneration rules to discourage excessive risk taking
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