One of the interesting developments of recent years has been the metamorphosis of firms that had only a small footprint in the core UK wealth management sector at the start of the 2010s, into institutions that are well positioned to challenge for market leadership.

The latest manifestation of Quilter, along with Schroders and Tilney are the three obvious firms that come to mind. But there are others.

Canaccord Genuity Wealth Management, which didn’t even have a UK presence at the beginning of the decade, has almost certainly moved into the top echelon for example (depending upon which metric one uses to measure size)....