The past few years have shown that aiming to predict trends and
outcomes is an impossible feat. However, as we look back on the
wealth management industry over the course of 2022, and in the
context of forecasted 5.7%1 CAGR over the next 5
years, there are observations and insights that point to 4
“forces” that we believe will notably shape the UK
financial advice industry in 2023.
Continued Consolidation
As some 12% of Advisers look to exit or sell their businesses,
acquisitions will continue to play a key part in the succession
planning for many advice firms.
We've seen private equity-backed consolidation in the form
of Kingswood (Pollen Street Capital), Skerritts (Sovereign Capital
Partners), and others where the buy-and-build approach has been
taken with the aim of increasing assets under management, improving
financial performance, and enhancing regional coverage. In other
parts of the market, we have seen technology-enabled businesses
like Schroders'
