The Wealth 30: Why European Wealth Managers are Failing to Communicate Private Markets Value

Wealth managers across the UK and Europe are failing to effectively communicate their private markets capabilities to clients, according to a new report from Peregrine Communications. While 73% of leading firms offer private market access, a lack of educational content and clear digital positioning is creating a significant barrier to differentiation in an increasingly competitive wealth channel.

What was announced

Peregrine Communications released "The Wealth 30," a study analyzing how 30 top UK and European wealth managers and private banks position their private markets offerings. The report identifies a significant gap between technical capability and client-facing explanation. While nearly three-quarters of the firms studied engage in private markets, only 40% maintain a dedicated landing page to explain the asset class, its benefits, and how clients can access it. Even fewer—just 23%—provide a comprehensive digital experience combining explainers with repeatable house-view content.

The study highlights a geographical divide in communication styles. Swiss private banks, including Pictet, UBP, Lombard Odier, and Julius Baer, are cited as setting the industry benchmark by leveraging heritage narratives and consistent insight content. In contrast, UK firms like Coutts often rely on portfolio architecture and document-led communication rather than active digital engagement. UK firms more frequently communicate these offerings through embedded structures rather than dedicated educational destinations.

Peregrine’s analysis of 57 positioning claims reveals a lack of differentiation; 79% of firms anchor their value proposition on "access," while 68% focus on "diversification" and "global" capability. The report categorizes firms into four archetypes based on their owned-channel maturity and media presence: Destination-led, Materials-led, Education-led, and Low-visibility, each resulting in a distinct media footprint.

The companies involved

Peregrine Communications is a firm specializing in financial services marketing and communications, led by Managing Partner Anthony Payne and Partner Marina Fraser Harris. The organization focuses on analyzing how financial brands, particularly in the wealth and asset management sectors, position themselves to clients and the broader market. Through reports like The Wealth 30, the firm evaluates the maturity of owned-channel communications and media presence among leading UK and European financial institutions.

The firm’s analysis centers on the effectiveness of digital positioning and the clarity of house views within the wealth channel. By mapping firms against specific archetypes—such as Destination-led or Education-led—Peregrine provides a framework for understanding how communication strategies impact market visibility. The agency operates at a time when digital presence is becoming a critical factor for high-net-worth client acquisition, monitoring how private banks and wealth managers adapt their messaging to meet the changing research habits of investors and the rise of AI-driven discovery tools.

What this means

The wealth management sector is hitting a "commoditisation wall" in private markets. When nearly 80% of firms claim to offer the same "access" and "diversification," these terms lose their value as competitive advantages. The real battleground has shifted from the investment desk to the digital interface. Firms that fail to address liquidity and governance concerns through transparent, educational content risk being sidelined by AI search tools that prioritize clear, structured expertise. As private markets become a standard component of high-net-worth portfolios, the industry is moving toward a phase where the ability to explain complex assets is as valuable as the assets themselves.