Wealth management firms ride market momentum in first half of 2026

Major players like Morgan Stanley and JP Morgan underscored the sector's growth, with the former reaching a historic $10 trillion in total client assets and the latter reporting a 33 per cent surge in wealth management net income. The trend of rising assets under management (AuM) remained consistent across the board, bolstered by significant net new money inflows. In Switzerland, Julius Baer achieved a record net profit of SFr673 million, while Vontobel saw its net profit climb 87 per cent. Northern Trust also reported strong momentum, with net income surging 88 per cent compared to the same period last year.

Consolidation continues to reshape the landscape as banks integrate recent acquisitions to drive future efficiencies. ABN AMRO finalized its merger with Hauck Aufhäuser Lampe, and BNP Paribas saw a substantial boost in AuM following the consolidation of AXA IM. Meanwhile, Asian markets showed particular vigor, with OCBC posting record wealth management income of S$3.29 billion and Standard Chartered reporting a 38 per cent income rise in its wealth solutions business. While some institutions faced headwinds from rising noninterest expenses and integration costs, the overall sector trajectory remains characterized by increased client engagement and higher recurring fee revenues.