Bloomberg News reports that assets under management at UBS rose 3.5% to $2.04tril last year, the most globally, according to an annual study by Scorpio Partnership, a consulting firm. Morgan Stanley ranked second with $2.03tril as assets grew 6.1%.
'The global wealth management industry had a solid business year in 2014 in terms of financial results for the operating model', Scorpio said. 'In spite of financial market uncertainties and currency volatility, most lead players experienced overall growth in client volumes'.
The wealth-management industry managed $20.6tril in investible assets of high net worth individuals at the end of December. The top 10 managers accounted for 47% of the market, with UBS controlling 9.9%, Scorpio said.
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