Assets in the wealth management industry are approaching £1trn, reaching an all-time high of £980bn during the third quarter of 2018, according to a survey by Compeer, though rising costs led to falling revenues.
The quarterly survey by benchmarking firm Compeer, which covers wealth managers and execution-only stockbrokers, found assets rose 0.5% during the third quarter from £975bn to £980bn. This was divided between £783bn in the wealth management industry and £197bn from execution-only stockbrokers. Compeer said this was an "impressive result" after a disappointing start to the year when assets reduced by 1.6% from £958bn to £943bn as a result of stockmarket declines. However, this year's third quarter revenues decreased by 0.1% thanks to a decrease in commission income following a red...
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