The management of ultra-high-net-worth (UHNW) wealth in 2026 presents a mosaic of intricate challenges, driven by an escalating geopolitical landscape, persistent market volatility, and significant shifts in the global economic order. This complex environment has compelled affluent families to adopt strategies of unprecedented diversification, spreading their assets across numerous jurisdictions and venturing into a broader spectrum of asset classes than ever before. For contemporary wealth managers, the preservation of capital transcends mere portfolio balancing; it necessitates guiding clients through an increasingly fragmented global arena while ensuring their fortunes are safeguarded for future generations.
The Spear’s Wealth Management Indices for 2026 underscore these evolving dynamics, highlighting a pronounced trend towards bespoke advisory services. Maurice Ephrati, co-founder of Bedrock Group, emphasizes this crucial adaptation: "Every client and family is totally different, and you have to adapt, in all respects, to their needs and concerns. You cannot put them in a box, which makes my job fascinating and obviously very complex." This sentiment underscores the transformation of the UHNW advisor’s role from a traditional portfolio manager to a holistic strategic partner. The most effective wealth managers now engage in comprehensive advisory services, encompassing succession planning, tax efficiency, philanthropic endeavors, and intricate governance structures. This requires cultivating deep personal relationships to accurately gauge a client’s risk appetite, preferred investment sectors and themes, and the enduring legacy they aspire to create.
The growing emphasis on long-term investing is a direct consequence of these shifting paradigms. Unlike many investors who face immediate liquidity needs, UHNW individuals often possess the flexibility to adopt a more patient approach to capital allocation. This has fueled a burgeoning interest in alternative investments, including private markets, infrastructure, venture capital, and thematic investments specifically designed to generate sustainable returns over extended periods, often spanning decades rather than mere quarters. This strategic outlook is further complicated by the imperative to structure wealth in ways that mitigate geopolitical and regulatory risks, ensuring a seamless intergenerational transfer of assets.
The generational transfer of wealth is a critical juncture that is actively reshaping the industry. Bandish Gudka, partner at LGT Wealth Management, observes, "When wealth transitions from the older generation to the new, [that generation] has a nuanced approach as to what they want to do, and they often can’t see the wood for the trees." Younger inheritors frequently exhibit a more global perspective, a heightened focus on sustainability and impact investing, and a greater propensity to question established norms in investment and governance strategies. This dynamic necessitates a proactive and adaptable approach from wealth managers.
Global diversification is another cornerstone of modern UHNW wealth management. As wealthy families become increasingly mobile, advisors are tasked with providing seamless international support. Charlie Hoffman, managing director at HSBC Private Bank, notes, "Clients are becoming more and more international, so they need that seamless service across multiple jurisdictions." This demand has spurred the emergence of a new cohort of advisors and multi-family offices, operating alongside established private banks. These entities offer increasingly tailored services designed to meet the needs of globally-minded clients, ranging from agile entrepreneurial boutiques to expansive global institutions. Together, they are redefining the contours of modern wealth management and setting new benchmarks for how the world’s wealthiest families preserve and expand their fortunes.
The Spear’s Wealth Management Indices 2026 features a distinguished roster of individuals at the forefront of this evolving industry. Ashley Coombes, managing director of UBS’s wealth management division, is recognized for his pivotal role in ultra-wealthy asset management. Other notable figures include Charles Costa Duarte, managing director of Rothschild & Co, and Mark Goddard, UK CEO of Swiss private bank Lombard Odier, both of whom have secured positions within the prestigious Top Flight ranking.
The geographical distribution of these leading advisors reflects the industry’s truly global nature, with significant presences noted in London, Dubai, and Switzerland. Sam Leal, a director at Barclays Private Bank, is a new addition to this year’s Index, leading a dedicated team focused on Monaco-based individuals. Nima Naghibi, an executive director at Coutts specializing in managing the wealth of UHNW Middle Eastern families, also makes her debut in the Index.
Methodology and the Spear’s Indices
The Spear’s Research Unit employs a rigorous methodology to compile its annual rankings of leading providers. This process involves gathering comprehensive data on advisors and firms, including the evaluation of submission forms, collation of nominations, peer reviews, analysis of third-party data, collection of references and recommendations, consultation with experts, and conducting hundreds of interviews. A proprietary scoring system assigns weighted values to various attributes, which directly inform the rankings within each Index. These Indices are initially published online according to the research calendar and subsequently in print, culminating in the annual Spear’s 500 directory, which showcases the top advisors across all sectors.
The Spear’s 500 website serves as a searchable database for over 4,000 entities, allowing users to identify advisors based on specific criteria such as location, specialist expertise, and client base. This transparency and accessibility are crucial for individuals seeking tailored wealth management solutions.
Key Figures in UHNW Wealth Management: Profiles and Insights
The 2026 Spear’s Wealth Management Indices highlight several key individuals shaping the UHNW landscape:
Aastha Gurbax
At Goldman Sachs, Aastha Gurbax, who previously spent 13 years at J.P. Morgan Private Bank, focuses on providing clients with a "semi-institutionalized platform suited to retail and sophisticated clients alike." She emphasizes the importance of actively listening to clients and capitalizing on unique opportunities. Gurbax’s approach centers on holistic wealth management, ensuring that clients’ diverse financial needs are met comprehensively. Her profile on Spears500.com details her expertise in managing complex portfolios and delivering tailored financial strategies.
Charlotte Bobroff
J.P. Morgan Private Bank managing director and recipient of the UHNW Wealth Manager of the Year award at the 2023 Spear’s Awards, Charlotte Bobroff specializes in advising entrepreneurial clients within the consumer, retail, and e-commerce sectors, as well as business owners and family offices in the UK. Bobroff, who previously managed relationships within Credit Suisse’s UK UHNW team, joined J.P. Morgan in 2013 to build her client base from scratch. She highlights the sophisticated financial needs of her clients, which require the extensive resources and breadth offered by a firm of J.P. Morgan’s scale. Her profile on Spears500.com provides further insights into her client-centric approach and sector expertise.
Francesco Grosoli
As CEO of CMB Monaco, Francesco Grosoli offers a distinct strategy for managing UHNW wealth, emphasizing "diversification, focus, and discipline" as key principles for ensuring a safe transfer of wealth. Operating in Monaco, a hub for international residents, Grosoli notes the global diversity of his firm’s clients, originating from over 140 countries and various industries. This diverse client base necessitates a nuanced understanding of international markets and regulatory frameworks. His profile on Spears500.com elaborates on his approach to wealth preservation and intergenerational planning.
Paul Nixon
Paul Nixon, CEO of LGT Wealth Management’s US division, established the firm’s presence in the US in 2012. His team advises US-connected clients, including successful business owners and families residing in the UK or US, on establishing offshore structures, navigating UK/US tax obligations, and diversifying investments. Nixon emphasizes LGT’s "boots on the ground" presence in both the UK and the US, enabling them to leverage global expertise while executing strategies in a locally compliant manner. The US division is SEC licensed and FCA registered, underscoring their commitment to regulatory adherence. His profile on Spears500.com details his extensive experience and client advisory services.
Chris Ivey
Heading Cambridge Associates’ European private client team, Chris Ivey oversees investments for UHNWs and family offices with institutional-scale assets across the UK, Europe, and the Middle East. Cambridge Associates provides global investment management on both discretionary and non-discretionary bases, crafting bespoke portfolios without pooled funds or model portfolios. Ivey highlights the firm’s independence as crucial, allowing advisors to view the investment horizon "without any conflicts of interest." His profile on Spears500.com further explains the firm’s unique investment philosophy and client-focused approach.
Khaled Said
As managing partner of Capital Generation Partners, Khaled Said finds fulfillment in working with a team of "highly talented investors" who are deeply committed to client success. Said attributes the firm’s achievements to its ability to blend traditional practices with entrepreneurial insights, challenging the notion that exceptional investment talent is confined to large institutions. He emphasizes that clients need not be "just another number on a long list." His profile on Spears500.com outlines his leadership philosophy and the firm’s client-centric model.
Nick Atkinson
EFG Private Bank managing director Nick Atkinson describes himself as embodying the "very essence of a modern client relationship officer: proactive, adaptable, and highly knowledgeable." Specializing in discretionary investment management, advisory services, and banking and credit offerings, Atkinson is proud of the high-quality private banking services EFG provides, including access to offshore booking centers and product specialists. This diverse offering is particularly beneficial for his entrepreneurial clients seeking to achieve their ambitions and structure their wealth effectively. His profile on Spears500.com details his expertise and client advisory approach.
Bandish Gudka
A founding partner of LGT Wealth Management with over 26 years of experience, Bandish Gudka serves as a trusted advisor to UHNWs, in addition to his roles as investment manager and firm partner. Gudka’s philosophy is to "run the money for the people whom I have a relationship with." With a client book valued at over £1 billion and many multi-generational relationships, Gudka specializes in clients with landed wealth and businesses, often with offshore considerations. His profile on Spears500.com provides further detail on his extensive experience and client focus.
The collective expertise and strategic insights of these individuals, as detailed within the Spear’s Wealth Management Indices, underscore the dynamic and sophisticated nature of UHNW wealth management in 2026. The industry continues to evolve, driven by global economic shifts and the nuanced needs of the world’s wealthiest families, who increasingly demand personalized, holistic, and forward-thinking advisory services.
