St James’s Place: client funds: £148bn Cazenove Capital: client funds: £76.3bn

managers have generally returned 65pc for investors over 10 years.

Below are the top wealth managers in the country in terms of assets under management. Remember that the biggest players may not necessarily be the best firms for you.

St James’s Place is the largest wealth manager in the UK. Founded in 1991, it’s still a relatively young player in an industry where many firms have hundreds of years of history. Suitable for those with portfolios of at least £50,000, there’s a 4.5pc initial advice fee, 0.5pc fee for ongoing advice, and an early repayment charge of 1pc if you encash your investment within six years.

Founded in 1804, Cazenove Capital merged with the wealth management arm of Schroders in 2013. Annual management charges vary depending on the type of service you opt for, and how much you invest. Someone with a £1m portfolio – the minimum required – going bespoke comes with a 1pc annual management charge, or 0.5pc for its unitised service. There’s also a 0.5pc underlying fund cost, and dealing fees of 0.375pc. The fee reduces on a sliding scale for larger portfolios.

Rathbones: client funds: £58.9bn

Rathbones recently announced a merger with rival Investec, which Rathbones said will give it a broader research capability and enhance its service. But the merger raises questions over whether clients could see disruption in future. Rathbones currently charges 1.2pc on the first £250,000, 1pc on the next £500,000 and 0.75pc on the next £750,000. It requires a minimum portfolio of £100,000.