The wealth management sector remains crowded, complex and in a constant state of change.

Whilst there has been significant consolidation in the sector, new firms continue to emerge, driven by ambitious individuals and teams seeking to forge the perfect wealth management model – the holy grail.

We are also witnessing increasing interest from the banks which are building their presence across wealth management, no doubt with an eye on the inter-generational wealth transfer in the coming decades. One core question investors should ask is whether the scale and ownership structure of a business supports stable relationships.

Notwithstanding new entrants in the sector, several wealth managers in the Vallum Insights Directory are involved in mergers or takeovers, including

Artorius – Soderberg & Partners has made a strategic investment in Artorius (February 2026)

Canaccord Wealth – several large  private equity companies are mulling a bid for the group after the parent company revealed they are looking for a buyer

Cazenove Capital – Owner Schroders in surprise takeover by US asset management giant Nuveen  in a deal worth £9.9bn (February 2026). A recent PAM article assessed teh possibility that Nuveen might look to sell on Schroders’ wealth management business

Evelyn Partners – To be acquired by NatWest Group (owner of Coutts) for £2.7bn subject to regulatory approval (February 2026)

Rathbones – merged with Investec 2024 and now rumoured to be a potential target for major international banks

Raymond James – acquired Charles Stanley in 2023

RBC Brewin Dolphin – acquired by RBC in 2022

Saltus – highly acquisitive in the financial planning space (including Lowes Financial Management in 2025)

Stonehage Fleming – acquired by US firm Corient in 2025, alongside Stanhope Capital

Titan Private Wealth – parent company Titan Wealth is one of the most acquisitive financial services companies with a focus on the IFA market

UBS – acquired Credit Suisse in 2023

W1M – Formed through the merger of Waverton with London & Capital in 2024 and acquired Vermeer Partners in 2025

We are keeping a close eye on the various mergers and takeovers, as there can be knock on impact to clients and staff, both positive and negative.

In my review of up to 40 wealth managers over the last year, two things have become abundantly clear to me:-

• They are all different
• Investment performance differs significantly across all firms (and within firms depending on investment strategy or portfolio management approach adopted)

As such, it is vital that investors are working with a wealth manager that is right for them – people, performance, planning, charging, service levels and investment capabilities.