Wealth managers bear RDR gloom to post record growth

Flows into UK wealth managers are up 9% year-on-year and 3% from the previous quarter, according to a Q4 report by research firm ComPeer. The data suggests the Retail Distribution Review (RDR) has not so far had a detrimental effect on growth in the industry, which has outpaced that of several major markets. "A pick-up in the markets contributed to growth in underlying assets. However, with the 3.1% increase in assets outstripping the 1.6% increase in the FTSE APCIMS Balanced index, further inflows of assets into the sector are suggested," said ComPeer's senior analyst James Brown. ...