The financial industry in the UK has been growing rapidly over the past few years. With financial companies popping up all over the country, it can be not easy to keep track of them all. The financial services industry is complex, and many people don’t know what they are getting into when they sign up for a new financial service or company.
In this article, we’ll take a look at some of the largest financial companies in the UK so you can make an informed decision about where to put your money!
HSBC has a long history in financial services, and they operate in over 80 countries. They are one of the largest financial companies in the world, with assets worth £216 trillion. HSBC aims to help its customers live well by providing them financial solutions that enable development, growth, and stability around the globe.
Barclays is the third-largest financial company globally, and they offer many financial services through their subsidiaries1. They are headquartered in London and have assets worth £601 trillion! Barclays has over 100 million customers worldwide, with a presence in more than 50 countries.
#3: The London Stock Exchange Group
The London Stock Exchange Group serves as a financial company that offers financial products and services to companies, investors, governments, and financial institutions. They are headquartered in London with over 400 offices around the world!
#4: Lloyds Banking Group
Lloyds Banking Group is the second-largest financial company in the UK. They offer a wide range of financial products and services, including savings accounts, mortgages, personal loans, credit cards, commercial banking services2, and insurance and pensions.
Prudential is one of the financial giants in the UK. They are headquartered in London and have assets worth £763 trillion! Prudential has been around for over a century, providing financial products to their customers like life insurance, pensions, investment funds, mortgages loans, savings accounts, etc.
Aviva is one of the largest financial companies in the UK. They have been around since 1847 and operate in over 25 countries with assets worth £263 trillion! Aviva offers financial products like life insurance, pensions, savings accounts, mortgage loans, and investment funds to their customers.
#7: Standard Chartered
Standard Chartered is a financial company based in London that offers financial products and services to individuals, corporations, governments, financial institutions, and high-net-worth clients. They have assets of £129 trillion!
#8: Legal & General
Legal and General is a financial company that offers financial products like life insurance, pensions, savings accounts, mortgage loans, and investment funds to their customers. They have assets worth £768 trillion! They are headquartered in London with branches all over the world.
#9: Scottish Mortgage Investment Trust
Scottish Mortgage Investment Trust is one of the financial giants in the UK. They are headquartered in Edinburgh with assets worth £24 trillion, and they are focused on financial products like mortgages, savings accounts, and investments funds.
#10: NatWest Group
NatWest Group is headquartered in London, and they offer financial products like mortgages, savings accounts, credit cards, and insurance and pensions. They have assets3 worth £111 trillion, and they have over 500 financial centers in the UK and abroad.
#11: Pershing Square Holdings
Pershing Square Holdings is a financial company that offers financial products and services to individuals, financial institutions, governments, and high-net-worth clients. They have assets worth £147 trillion, and the financial company is headquartered in London with over 400 offices worldwide.
#12: M&G Investments
M&G is a financial company that offers financial products and services to its customers. They have assets worth £434 trillion, and they are headquartered in London with over 200 offices worldwide. M&G provides financial solutions for individuals and financial institutions like pensions, savings accounts, mortgages loans, etc.
#13: St. James’s Place Wealth Management
St. James’s Place Wealth Management is a financial company headquartered in London, England, that was founded in 1835 as the investment arm of St. James’s Church, Piccadilly. The financial group offers financial planning and advice to individuals based on their needs, emphasizing wealth accumulation through property or shares investments for retirement purposes.
#14: Standard Life Aberdeen
Standard Life Aberdeen is a financial company headquartered in Edinburgh, Scotland. The financial group offers life insurance and pensions, and other financial products to individuals from the UK market.
#15: RSA Insurance Group
RSA Insurance Group is a financial company based in London, England. The financial group operates as a holding company for its subsidiaries, providing insurance and related financial products to individuals primarily from the UK market.
#16: Phoenix Group Holdings
Phoenix Group Holdings is a financial company headquartered in London, England. The financial group operates as an insurance and investments provider to individuals primarily from the UK market with operations throughout Europe and the Asia Pacific.
#17: Hargreaves Lansdown
Hargreaves Lansdown is a financial company headquartered in Bristol, England. The financial group offers financial products to individuals primarily from the UK market, including investments and pensions, financial planning, financial advice, and stockbroker4 services.
#18: Admiral Group
Admiral Group is an insurance company that operates in the United Kingdom and Ireland. It’s headquartered in London, England, with offices in Edinburgh, Manchester, and Dublin. The company has a range of financial services products for personal and commercial customers.
Schroders is a financial services company based in London, England, that primarily offers financial advice and asset management. The firm has offices worldwide, including Singapore, Hong Kong, San Francisco, New York City (USA), Sydney (Australia), Zurich (Switzerland), and Dubai.
#20: 3i Group
3i Group is a financial institution that provides private equity, venture capital, and growth financing to small-to-medium-sized companies. The financial company was founded in 1964 by Sir Tom Cowie.
What Are Financial Companies?
Financial companies are financial entities that offer financial services to individuals or organizations. These include banking, financial advice, and stockbrokers, among others.
How Are Financial Firms Regulated in the UK Market?
The financial industry is regulated in the UK by financial services, which vary depending on the type of financial service being provided.
For example, financial institutions providing healthcare insurance products are regulated by The Financial Conduct Authority (FCA). In contrast, financial firms that offer investment advice are regulated under The Investment Association Firms Regulations 2013.
What's the Purpose of Financial Companies?
The primary purpose of financial companies is to help individuals plan better for their future with a focus on wealth accumulation through property or shares investments in retirement years. Financial companies also offer financial advice and financial products for individuals from the UK market.
How Do I Choose a Financial Company?
It depends on what financial products you need. If you’re looking for investment management services, then a financial company that offers investments and financial advice may be the best option.
The financial industry in the UK is thriving. As of 2015, there are over 500 companies licensed to provide investment advice and services. As Brexit looms on the horizon, these numbers will only continue to grow as more people look for ways to protect their investments.
With this in mind, we’ve compiled a list of our favorite British-run finance firms that you can turn to when looking for help managing your money or structuring an investment plan based on your needs and goals.
Whether you want someone specializing in stocks or bonds, trusts or wills, it doesn’t matter because one of these businesses has got you covered!