FCA: Top ten wealth management firms hold nearly 90% of all UK clients

However, the regulator also found the market share held by the ten largest firms by assets under management has remained broadly stable, falling by three percentage points over the period from 62% to 59% of assets. The report, which surveyed 400 wealth management firms, found the number of portfolio management clients has grown by 20% since 2022 to hit 1.3 million, with 4.2 million execution-only retail clients in the sector. In terms of assets, 65% were discretionary managed, 8% were advisory managed and 27% were execution-only. As many as 41% of firms polled said they plan to acq...