The past decade of wealth management has been characterised by assets swirling from one provider to another. Yet 2026 marks a shift. Firms are turning their attention from operational concerns like regulation and technology towards organic growth.

Growth is imperative for the future of our industry. And it matters for the country too. People need help with their money, and our sector can no longer be a well-kept secret. We need to help more people, more effectively and at greater scale.

A powerful reminder of the size of this opportunity occurred recently at a meeting of the NextWealth Network last autumn in London. The managing director of a large private-equity firm explained why she finds wealth management such a compelling investment case.

“What other sector has one client proposition? What other sector has one route to market?”

She’s exactly right. The room to expand has scarcely been tapped. We need varied propositions and many routes to market. Consider that three-quarters of new clients still come through referrals. The potential for organic growth is significant.

Why now? Wealth management firms have spent recent years implementing regulatory change, investing in technology, defining their client propositions and clarifying target markets. Some have taken investment from ambitious outsiders who see the opportunity.

With one-third of clients now over the age of 65, at NextWealth we are seeing a cohort of younger advisers actively seeking younger clients. Alongside this, there are more innovative approaches to marketing and a renewed focus on professional connections as a source of referrals.

Consumer Duty has played a role too. The discipline of articulating value clearly and consistently is helping firms sharpen how they explain what they do and why it matters.

Earlier in my career, I worked in US wealth management from a sleek office tower in downtown Boston. I witnessed the confidence American advisers have in selling their services and their strident confidence in their value. In Britain, advisers may sell with less swagger, but having muscular confidence in articulating value is critical to growth.

This is a theme we plan to explore in depth at the fifth edition of our annual NextWealth Live conference on 18 March at the Royal Institution in London, and at events and in reports throughout the year. The conference will look explicitly at future business models for growth – including how firms connect with clients more effectively.

Speakers include:

• Steven Levin (Quilter)
• Andrea Montague (Brooks Macdonald)
• Stuart Philips (The Private Office)
• Michael Summersgill (AJ Bell)
• Gerry Mallon (True Potential)
• Simon Belsham (Hargreaves Lansdown)
• Matthew Lamb (Pacific Asset Management)
• Heather Christie (BlackRock)

Tickets typically sell out by the end of February, so don’t delay.

At NextWealth, our ambition is to be the most trusted partner for evidence-based insight on the future of UK wealth management. And while we are great proponents of new technologies like AI, at its core our work is about connecting insights and people to drive positive change in the industry.

Heather

FAQ:

What is the focus of wealth management in 2026?
In 2026, wealth management firms are shifting from operational concerns like regulation and technology toward organic growth. Firms are increasingly focused on helping more clients, more effectively, and at greater scale.

What role do referrals play in client acquisition?
Referrals remain the primary source of new clients, with roughly 75% of new clients coming through personal recommendations. Firms focusing on client experience, networking, and professional connections can significantly accelerate organic growth.

 How does marketing and communication impact growth?
Innovative marketing approaches, clear value propositions, and confident communication of services are crucial. Advisers need to combine standardised processes with personalised client engagement to scale effectively while maintaining trust.

What events are NextWealth hosting to explore growth strategies?
The fifth annual NextWealth Live conference on 18 March at the Royal Institution in London will explore future business models and client engagement strategies for wealth management.