One of the authors of a new global wealth management report believes that the Covid-19 outbreak could have a “profound” impact on the UK wealth management sector which has flourished in recent years.

Smith & Williamson has made 22 senior promotions as it prepares for its £44bn merger with Tilney set to create one of the UK’s biggest wealth management and Financial Planning firms.

Wealth manager St James's Place saw a year-on-year drop in gross and net inflows in May, the firm said today in a trading update.

With all the choices available and accelerating digital disruption, Financial Planners need to transform if they are not to face commoditisation, says a new report.