The wealth management industry in the UK has been too hot to ignore. Banks, private equity and asset managers have all tried to get in on the sector through M&A or distribution deals in their pursuit of attracting wealthy clients who aren’t receiving financial advice.

There are an estimated 12 million adults stuck in this so-called ‘advice gap’ in the UK, and with a horde of baby boomers inching closer to retirement, investors have spied an opportunity to make some serious cash.