November 17, 2021
Markets

Choosing a wealth manager in the post-Covid world

At the start of the pandemic, Britain’s wealth managers assumed they would be in for a torrid time, as financial markets crashed and worried clients swamped the phone lines.

Instead, despite the human and economic damage wrought by the crisis, they are emerging from the depths of Covid-19 with their businesses secure and their prospects much brighter than expected.

“When things got really sticky in the market, clients just wanted somebody to talk to,” says Rob Burgeman, investment manager at Brewin Dolphin, an old, established London-based company. “And that plays to the strengths that a lot of firms in our industry have.”

The rapid recovery in stock markets from their March 2020 lows has transformed investors’ fortunes and with them, the value of the assets under management (AUM) entrusted to wealth managers. While many do-it-yourself investors panicked and sold up,…

Read full article here: www.ft.com