Who are the 10 best UK wealth management firms in the UK?

What makes a good wealth management firm?

Choosing a wealth management firm is a critical decision that can have long-term implications for your financial wellbeing. 

Let’s dive into the key qualities that set the best wealth management firms apart.

• Expertise and experience: A reputable wealth management firm boasts a team of seasoned professionals with extensive experience in finance, investments, and estate planning.
• Customised services: The best firms offer tailored solutions to meet your unique financial goals. They take the time to understand your needs, risk tolerance, and long-term objectives, creating a personalised strategy that aligns with your financial aspirations.
• Transparent fees: A good firm will provide clear information about fees, whether they are flat fees, hourly rates, or a percentage based on your assets.
• Strong track record: A firm’s history of performance and client satisfaction speaks volumes.
• Comprehensive services: Beyond investment management, the top firms offer various services, including tax planning, estate planning and retirement planning.

Wealth management firms in the UK must be authorised and regulated by the Financial Conduct Authority (FCA) to ensure they meet stringent standards for conduct, financial stability, and client protection.  

If you’re unhappy with the service your wealth management firm provides, the first step is to address the issue directly with your adviser. Most firms have a formal complaints procedure.

If the issue remains unresolved, you can escalate it to the Financial Ombudsman Service (FOS), which offers a free, independent service for resolving disputes.

Fees for wealth management services can vary significantly.

On average, expect to pay between 1% and 1.5% of your assets under management (AUM) annually.

Whether a fee is seen as high or not depends on the amount of assets you have, according to Chadwicks. 

For example, expect to pay the following fee for a portfolio:

• Valued at less than £300,000: a fixed fee of between £1,000 and £3,000
• Valued between £300,000 and £1 million: 1% - 2% of AUM
• Valued at between £1 million and £2 million: 0.5% - 1% of AUM
• Valued at over £2 million: 0.3% - 0.8% of AUM

Some firms may have a minimum wealth requirement, typically starting at around £250,000, but this can vary widely.

Who are the best wealth management firms in the UK?

To determine the top 10 best wealth management firms in the UK, we reviewed existing content from reputable financial publications such as The Telegraph and Tembo, industry reports, and client reviews.

We selected leading wealth management firms consistently mentioned for their outstanding service, expertise, client satisfaction and the biggest in terms of assets under management (AUM).

When deciding whether a wealth management firm is best for you, it's worth looking at many factors aside from AUM.

1) Saltus

One of the best-rated wealth management firms in the UK, Saltus is known for its personalised financial planning and investment management services.

Their specialities include investment management, retirement, tax, and estate planning.

Saltus also offers financial advice for business owners and philanthropic planning services. They use advanced financial planning software and digital client portals for real-time account access and management.

• Fees: These are typically on the higher end, depending on the complexity and level of service required.
• Client funds: £5 billion. 
• Minimum account size: £250,000 

2) Rathbones

Rathbones is one of the oldest wealth management firms in the UK, offering bespoke investment management and wealth planning services.

The firm specialises in discretionary investment management and financial planning. They also offer services such as ethical investing, tax services, and trust and estate planning.

Rathbones uses advanced portfolio management systems and a client app to offer secure access to portfolio information.

• Fees: These are generally mid to high range, tailored to the individual client’s portfolio and requirements.
• Client funds: £100 billion. 
• Minimum account size: £100,000.

3) Quilter

Quilter provides a comprehensive range of wealth management solutions, focusing on helping clients plan for retirement and manage their investments effectively.

Their specialities include retirement planning, investment management, and wealth structuring. 

Quilter also offers inheritance tax planning, life insurance, and mortgage advice. This leading wealth management firm leverages a sophisticated digital platform for client interaction and investment monitoring.

• Fees: These are typically mid-range, varying based on the service package chosen.
• Client funds: £106 billion.
• Minimum account size: £250,000.

4) Cazenove Capital

Cazenove Capital, part of Schroders, is renowned for its tailored wealth management services catering to high net worth individuals, families, and charities.

They specialise in discretionary portfolio management, family office services, and philanthropy advice.

Cazenove also provides tax planning, financial planning, and fiduciary services. They use advanced investment analytics tools and a client portal for comprehensive financial oversight.

• Fees: These are typically on the high-end, reflecting the bespoke nature of their services.
• Client funds: £76 billion.
• Minimum account size: £1 million.

5) Charles Stanley

Established in 1792, Charles Stanley is one of the best UK wealth management firms that offers personalised investment management and financial planning services.

Charles Stanley specialises in bespoke portfolio management and financial planning.

They also provide services such as inheritance tax planning, retirement planning, and advisory services and use a range of digital tools for portfolio management and client reporting.

• Fees: The fees range from low to high, depending on the specific services and investment amounts.
• Client funds: £27 billion. 
• Minimum account size: £250,000.

6) St James’s Place

St James’s Place is one of the most renowned and largest wealth management firms in the UK, known for its extensive network of advisers and comprehensive financial services.

The firm specialises in investment management, retirement planning, and tax planning.

Other services include mortgage advice, will writing, and business financial planning. St James’s Place uses a proprietary platform for financial planning and investment tracking

• Fees: These are generally on the higher end due to the various services offered.
• Client funds: £179 billion.
• Minimum account size: £50,000.

7) Niche Private Clients

Niche Private Clients is a boutique wealth management firm known for its innovative approach to financial planning and investment management.

Ethical and sustainable investing, retirement planning, and tax-efficient investment strategies are the firm’s specialities.

They also offer life insurance, business financial planning, and estate planning services. Niche Private Clients uses advanced financial planning tools and a dashboard for real-time financial tracking.

• Fees: The fees are often in the mid to high range, varying based on service complexity.
• Client funds: £1 billion. 
• Minimum account size: £100,000.

8) Evelyn Partners

Evelyn Partners is one of the best-rated wealth management firms, known for its personalised approach and extensive range of financial services.

The firm specialises in investment management, financial planning, and tax advisory services.

Evelyn Partners also offers accounting services, corporate finance advice, and private client services. It uses advanced analytics platforms and client portals to deliver comprehensive services.

• Fees: These are typically mid to high range, depending on the services used.
• Client funds: £53 billion.
• Minimum account size: £50,000.

9) Stonehage Fleming

Stonehage Fleming is a leading independent family office and wealth management company catering to  UHNW families and individuals.

The firm specialises in family office services, investment management, and succession planning.

It also provides fiduciary services, tax advice, and strategic investment consulting. Stonehage Fleming uses advanced family office management software and secure digital platforms.

• Fees: These are often on the high end, reflecting the bespoke and high-touch service model.
• Client funds: £134 billion.
• Minimum account size: £500,000.

10) RBC Brewin Dolphin

RBC Brewin Dolphin is one of the leading wealth management firms, which is known for its personalised investment management and financial planning services.

It specialises in discretionary investment management, retirement planning, and financial planning and offers inheritance tax planning, life insurance, and mortgage advice.

RBC Brewin Dolphin uses a comprehensive digital platform for client interaction and portfolio management.

• Fees: Fees range from mid to high, based on the complexity and level of service.
• Client funds: £52 billion.
• Minimum account size: £150,000.

Is it worth going to a wealth management firm for financial advice?

Many individuals seek help from a wealth management firm when their financial needs become complex or want to ensure their wealth is managed effectively.

Wealth management firms provide expertise in investment management, tax planning, estate planning, and retirement planning.

They help clients navigate complex financial situations and achieve their long-term financial goals. 

For example, an individual with a high net worth with diverse investments and significant estate planning needs would benefit from comprehensive services offered by a wealth management firm.

A financial adviser may be more appropriate for those with less complex financial needs or lower levels of wealth. Financial advisers can help with saving, investment strategies and retirement planning.

Issues such as budgeting or basic savings strategies may not require the expertise of a wealth manager.

These situations can often be handled effectively by a financial adviser or through self-management with the help of online resources.

How to choose a wealth management firm

Choosing the right wealth management firm in the UK  is a crucial step in securing your financial future.

Here are five tips to help you make the best choice:

1. Assess your needs: Understand your financial goals and needs. Are you looking for investment management, tax planning, or estate planning? Knowing your needs will help you find a firm specialising in those areas.
2. Check credentials and experience: Look for firms with certified professionals and a proven track record. Experience and expertise are critical in managing your wealth effectively.
3. Evaluate fees and transparency: Ensure the firm is transparent about its fees and that you understand what you’re paying for. Compare fee structures to ensure you’re getting value for your money.
4. Consider client reviews and testimonials: Research client reviews and testimonials to understand the firm’s reputation and client satisfaction. A firm with positive feedback is more likely to provide good service.
5. Meet the advisers: Arrange meetings with potential advisers to assess their approach and ensure they understand your needs. A good adviser should be a good fit for your personality and financial goals.

By following these tips and carefully considering your options, you can find the best wealth management firm to help you achieve your financial objectives and support your financial future.

Get expert financial advice

Choosing the best wealth management firm is a pivotal decision that can significantly impact your financial future.

The right firm will not only help you manage your wealth but also guide you through complex financial landscapes with tailored strategies, expert advice, and comprehensive services. 

By analysing our list of the top 10 wealth management firms in the UK and understanding what makes a good firm, you can make an informed choice that aligns with your financial goals.

As you navigate this important decision, consider the firm's track record, the breadth of its services, and the technology it uses to enhance clients’ experiences.

Ultimately, partnering with a top-tier wealth management firm can provide peace of mind and help you build the financial future you want.

Let Unbiased connect you with a financial adviser for expert financial advice tailored to your unique needs.