Buy-and-build in advice: the maths behind the multiple
Why acquirers pay up for advice firms, and the operational conditions that have to hold for the arbitrage to survive contact with reality.
24 Jun 2026 · 6 minConsolidation, advice, platforms and value. Where the UK wealth market is heading — and what it means for the firms competing, acquiring and integrating within it.
A wave of capital has reshaped UK wealth & advice. A clear-eyed look at where consolidation creates durable value — and where it simply moves cost around the balance sheet.
Read the essay →Why acquirers pay up for advice firms, and the operational conditions that have to hold for the arbitrage to survive contact with reality.
24 Jun 2026 · 6 minFalling basis-point pricing meets rising cost-to-serve. What the next phase of UK platform economics demands of scale and technology.
12 Jun 2026 · 5 minThe advice gap remains stubbornly open. Where hybrid and technology-led models are finally starting to close it profitably.
30 May 2026 · 5 minThe single biggest destroyer of deal value in wealth is adviser and client attrition. The integration choices that prevent it.
18 May 2026 · 6 minBeyond compliance, the Duty is quietly reshaping product, pricing and who gets served. Reading it as a strategy signal, not a cost.
2 May 2026 · 7 minSponsors have underwritten much of the consolidation. What their hold periods and exit routes tell us about the next 24 months.
19 Apr 2026 · 6 minA short note when there's something worth saying — no cadence, no noise. Just reasoning worth your time.