The new initiative, which will form part of PIMFA's existing member proposition, is expected to be launched later this year, BWC said in a statement this week.

Developed in partnership with BWC, formerly Compeer, the service will provide member firms with access to benchmarking insights, peer comparisons, and broader market intelligence as part of their membership, helping to support strategic planning, business performance, and operational decision-making.

The agreement combines BWC's benchmarking expertise and sector data with PIMFA's industry reach, member engagement and understanding of the policy and regulatory environment.

"Access to high-quality data, peer comparison and market insight is becoming increasingly important for firms operating in a competitive and fast-changing environment,” David Ostojitsch, director of government relations and policy at PIMFA, said. “By combining BWC's trusted benchmarking capabilities with PIMFA's understanding of the sector, our member community and our engagement with policymakers and regulators, we have an opportunity to create something that delivers real value for firms.”

"This initiative represents another important enhancement to the PIMFA member proposition and demonstrates our ongoing commitment to ensuring members receive practical support, relevant insight and tangible benefits from their membership,” Ostojitsch added.

James Brown, CEO of BWC Benchmarking, said: "PIMFA represents a significant and influential community of wealth management and financial advice firms, making it an ideal partner as we continue to expand the reach and impact of our benchmarking capabilities.

BWC Benchmarking was formed in 2025, following the acquisition of Compeer's core services. In January, the organisation issued its State of UK Wealth Management Report (based on data collected from wealth management firms throughout 2025). It highlighted that sector costs rose 6.6 per cent year-on-year; revenues rose 4.8 per cent; pre-tax profits dipped 0.8 per cent; investment assets rose 10.2 per cent; and staffing gained by 2.8 per cent. Private banks remain the largest contributors to overall industry revenue.

Separately, PIMFA said yesterday that Nigel Stockton, CEO of TrinityBridge, has been elected to its board of directors. 

(Bruce Weatherill, chairman of BWC Benchmarking, is also chairman of ClearView Financial Media, publisher of this news service.)