Hugh Elwes: Expect further M&A acceleration in wealth management

As markets continue to digest the effects of the crisis in Ukraine and the ongoing pandemic recovery, fresh momentum in wealth management M&A is occurring. Wealth managers have emerged from the pandemic relatively unscathed and have now returned to face meetings with clients and are gathering further assets, often arising from client cash flows accumulated through the pandemic. Historic UK pension reforms also continue to help new cash flows. However, the recent poor performance of stock and bond markets, particularly technology stocks, has depressed AUM and therefore cautious strateg...