Wealth managers outstrip the stock market - 30.06.2007
Financial Times, Steve Lodge
Compeer was mentioned in the above article, the focus of which was the wealth management industry in Britain. Alison Malton, managing director of Compeer, was quoted saying “Clients’ confidence in both stock markets and the wealth management sector appears to have returned. Firms have succeeded in attracting an increased share of the wealth of existing clients and also, very importantly, succeeded in attracting new clients.” She was also quoted saying “The majority of this business has come from investors consolidating existing pension arrangements into a single SIPPs wrapper, meaning that wealth managers are taking market share from the life and pensions companies. SIPPs provide an opportunity to transform the size of the private client industry in the UK, provided firms can secure their share.” The article referred to data from Compeer’s UK Wealth Management Industry Report 2007.