At a time when headlines about Brexit and tweets from Donald Trump, the US president, can move markets, savers want to be certain their money is being managed by the best people.
As the FT’s specialist publication for financial professionals, FTAdviser’s 2018 Top 100 Financial Advisers list uses data collated by our research partner Strategic Insight to provide a snapshot of some of the very best intermediaries working in the UK today.
This year’s ranking differs significantly from those produced by FTAdviser in previous years. Rather than being based purely on sales, the list now ranks firms by looking at other factors that are key to investors seeking the best person to assist them with their finances.
This year, we have considered the growth rate of the advisory businesses, the number of years of experience each business has managing assets in different economic and interest-rate environments and how highly qualified its advisers are.
We have considered a range of factors to rank each advice firm because the quality of a business isn’t reflected just by how much new cash it is bringing in.
Our approach produces a useful indication of some of the best investment advice firms assisting clients in the market.
This year, FTAdviser has scored businesses on how well they retain investors’ cash and we have checked outflows against inflows too.
In order to check how advisers manage their clients’ investments, our research partner Strategic Insight used data on net flows received directly from fund managers covering 88 per cent of the retail investment market plus 17 of the nation’s biggest investment platforms.
Consumers want advisers to find the best funds for their needs, so another factor we have added to the rankings for this year is whether investment vehicles being recommended by a business are those that generate best yield. The Top 100 Financial Adviser list factors this into where the business appears in our ranking. So, where an advice firm features on the list also gives some indication of how their assets under management naturally grew based on their smart investment choices.
In recognition of advice firms’ commitment to their professional development, they were also awarded bonus points for having earned top industry certifications.
As using raw numbers of financial advisers would simply benefit the bigger firms — and thus provide too much of a duplicate of the assets under management score — we have split businesses into quintiles based on number of CF30 designees (the Financial Conduct Authority’s definition of a professional able to carry out “controlled functions” for retail clients). Points have been awarded depending on which quintile the firm was in. While this still gives the advantage to the bigger firms, it is not as much of an advantage.
Clients also want to know that the adviser they see today will also help them through the financial ups and downs of tomorrow. This year’s list also rates businesses on their ability to keep advisers in their ranks.
Experience also counts, especially when uncertainty is greater than usual. The average Top 100 Financial Adviser firm has been in the business for 45 years — meaning they have managed money through at least five bear markets.
The average Top 100 Financial Adviser firm managed £2.6bn in assets, which is £44m (up 1.7 per cent) more than FTAdviser’s Top 100 firms last year.
We hope investors and intermediaries appreciate what we feel is the most comprehensive ranking of financial advisers currently operating in the UK based on what investors care about.
Emma Ann Hughes is the editor of Financial Adviser and FTAdviser.com
Rank | Company | Assets under management invested in retail investment funds 2018 (£m) | Year founded |
---|---|---|---|
1 | Tenet | 2,900 | 1967 |
2 | JLT Group | 400 | 1960 |
3 | Mazars Financial Planning Ltd | 890 | 1940 |
4 | Kerr Henderson Group | 660 | 1962 |
5 | Wilfred T Fry (Personal Financial Planning) Ltd | 240 | 1898 |
6 | Quilter PLC | 29,000 | 1845 |
7 | Raymond James Group | 2,500 | 1962 |
8 | Brewin Dolphin Ltd | 10,000 | 1762 |
9 | Foster Denovo | 1,600 | 2005 |
10 | Tavistock Group | 570 | 1975 |
11 | Wingate Group | 300 | 1970 |
12 | Beckett Investment Management Group | 500 | 1988 |
13 | Gibbs Denley Group | 500 | 1990 |
14 | Helm Godfrey Partners Ltd | 410 | 1990 |
15 | PI Financial Ltd | 220 | 1991 |
16 | Independent Financial Strategies Ltd | 360 | 1983 |
17 | Lovewell Blake Group | 200 | 1858 |
18 | Westminster Wealth Management LLP | 250 | 2000 |
19 | True Potential Group | 690 | 2007 |
20 | St. James’s Place Wealth Management Plc | 97,000 | 2000 |
21 | Harwood Wealth Management Group | 1,200 | 2001 |
22 | Ring Associates Ltd | 310 | 2002 |
23 | Legacy Private Wealth Ltd | 290 | 1982 |
24 | Canaccord Genuity Group | 990 | 1950 |
25 | Paradigm Norton Financial Planning Ltd | 480 | 2001 |
26 | Grant Thornton Group | 300 | 1924 |
27 | HFMC Wealth Group | 210 | 1999 |
28 | HSBC Bank Group | 6,000 | 1865 |
29 | Chantler Kent Investments | 210 | 2004 |
30 | Succession | 1,500 | 1998 |
31 | Joseph R Lamb Independent Financial Advisers Ltd | 260 | 1970 |
32 | Perspective Group | 640 | 1980 |
33 | Fairstone Group | 2,500 | 2005 |
34 | Validpath Ltd | 280 | 2001 |
35 | Hoyl Group | 250 | 2005 |
36 | Chadney Bulgin LLP | 67 | 1993 |
37 | Close Brothers Group | 410 | 1878 |
38 | Smith & Williamson Group | 3,000 | 1881 |
39 | Best Practice IFA Group Ltd | 1,300 | 2003 |
40 | UBS Group | 2,800 | 1862 |
41 | LEBC Group Ltd | 240 | 2000 |
42 | Lumin Wealth Management Ltd | 270 | 2010 |
43 | Lloyds Banking Group | 8,500 | 1765 |
44 | InPartnership | 1,800 | 2000 |
45 | Chase de Vere Group | 2,000 | 1969 |
46 | Lonsdale Services Ltd | 430 | 2003 |
47 | Pharon Independent Financial Advisers Ltd | 91 | 1973 |
48 | Central Investment Services (Scotland) Ltd | 200 | 1973 |
49 | Argyle Consulting Ltd | 300 | 1997 |
50 | Saunderson House | 3,500 | 1968 |
51 | Tilney Group | 6,200 | 1836 |
52 | N W Brown & Co Ltd | 230 | 2000 |
53 | Clayton Holmes Naisbitt Group | 140 | 2008 |
54 | Ludlow Wealth Management Group | 29 | 1996 |
55 | Punter Southall Group | 910 | 1988 |
56 | Portafina LLP | 330 | 2009 |
57 | Cullen Wealth Ltd | 140 | 1998 |
58 | The Private Office | 540 | 2008 |
59 | Balmoral Asset Management Ltd | 76 | 1998 |
60 | Chartwell Financial Services Ltd | 200 | 1991 |
61 | Wren Sterling Financial Planning Ltd | 270 | 2014 |
62 | Pannells Financial Planning Ltd | 360 | 1989 |
63 | Sense Network Ltd | 1,300 | 2006 |
64 | Barclays Group | 2,900 | 1736 |
65 | Advanta Wealth Ltd | 250 | 2012 |
66 | Attivo Group | 170 | 2005 |
67 | Sanlam Financial Services Group | 1,500 | 1918 |
68 | Skipton Group | 860 | 1845 |
69 | HFS Group | 360 | 1986 |
70 | Openwork | 7,900 | 1999 |
71 | Magus Private Wealth Limited | 310 | 1998 |
72 | Grosvenor Consultancy Ltd | 330 | 1998 |
73 | Smith & Pinching | 130 | 1998 |
74 | Hargreaves Lansdown Group | 29,000 | 1984 |
75 | Loveday & Partners Ltd | 360 | 2013 |
76 | KW Group | 420 | 2011 |
77 | Argent Wealth Ltd | 120 | 2009 |
78 | Principal & Prosper Holdings Ltd | 11 | 2007 |
79 | Calculis Financial Planners | 210 | 2011 |
80 | Network Direct Ltd | 380 | 2009 |
81 | LGT Vestra | 470 | 2007 |
82 | Clairville York Ltd | 200 | 1987 |
83 | MacKenzie Investment Strategies Ltd | 170 | 2010 |
84 | Lomond Financial Management | 130 | 2016 |
85 | Investec Group | 7,600 | 1974 |
86 | Beaufort Financial Planning Ltd | 430 | 2012 |
87 | Gee & Watson Wealth Management Ltd | 320 | 1974 |
88 | Asset Management Financial Advisers Ltd | 59 | 1987 |
89 | Lighthouse Group | 1,800 | 2000 |
90 | Skerritt Consultants Ltd | 310 | 2000 |
91 | Russell Ulyatt Financial Services Ltd | 74 | 2003 |
92 | Wade Financial Services Ltd | 150 | 1994 |
93 | Charles James Financial Planning Ltd | 120 | 1984 |
94 | Cumberland Place Financial Management | 360 | 2002 |
95 | Estate Capital Financial Management Ltd | 95 | 2003 |
96 | Wills & Trusts IFP Ltd | 66 | 1992 |
97 | Lowes Financial Management | 210 | 1971 |
98 | The Royal Bank of Scotland Group | 3,200 | 1727 |
99 | Creative Advice Ltd | 87 | 2006 |
100 | Moore Stephens Group | 350 | 1984 |
Research partner Strategic Insight receives data directly from fund managers covering 88 per cent of the retail market. Fund manager data is further supplemented and enhanced with platform funds. The top 25 fund managers account for 87 per cent of retail assets under management and Strategic Insight received sales data from 22 of these investment houses. Seventeen platforms submit data to Strategic Insight, including 16 at fund and intermediary level. The 17 platforms supplying data are: Aegon Wrap, Alliance Trust Savings, Ascentric, Elevate, FundsNetwork, James Hay, Novia, Nucleus, Parmenion, Quitter Wealth Solutions, Raymond James, Seven IM, Standard Life Wrap, Transact plus Zurich & Starling. | |||
Factors influencing the final score:o Assets Under Management invested in retail investment funds accounted for an average of 54 per cent of each adviser’s score. o Net-flow accounted for an average of 23 per cent of each adviser’s scoreo Years of service accounted for an average of 9 per cent of each adviser’s scoreo CF30 accounted for an average of 8 per cent of each adviser’s scoreo Retention accounted for an average of 3 per cent of each adviser’s scoreo Estimated performance accounted for an average of 2 per cent of each adviser’s score. |