The number of people that are members of PBWMG was not disclosed, but the group has the support of advisory firms and private banks keen to ensure that the value of private wealth is better understood in Westminster circles.

According to David Harvey, chief executive of Step, "The private wealth sector needs to have a united voice with government, and one which encourages growth for everyone’s benefit. It is vital that the government understands our sector brings with it a significant number of jobs, inward investment and tax revenues."

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

As the group will be representing the interest of the whole sector, including advisors, private banks and wealth managers, it plans to work for a collective development of the reputation of the private wealth sector.

"The partnership is a logical move for Step, given the strong business links between advisors, private banks and wealth managers, and Step’s substantial policy experience," Step said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.