Nov 26 (Reuters) - Canada's Canaccord Genuity ( CCORF ) is

working with bankers to review its British wealth management

business, with potential outcomes ranging from a sale to

bringing in another investor, the Financial Times reported on

Tuesday.

Canaccord is working with UK-based advisory firm Fenchurch

Advisory Partners on the strategic review, which is in the early

stages, the FT report said, citing two people familiar with the

matter.

Canaccord and Fenchurch did not immediately respond to

Reuters requests for comment.

Wealth management is one of the most competitive segments of

Britain's financial industry, with banks jostling with

traditional investment firms to serve clients from pension

savers to billionaires.

UK wealth management is tightly regulated and can be a

costly business, particularly after a recent crackdown on fees

and value for money.

The biggest UK banks tracked by research firm Coalition

Greenwich made $12 billion from wealth management in 2023, up

11% year-on-year.

The sector collectively holds around 4 trillion pounds

($5.02 trillion), half of Britain's wealth market, according to

data from Lloyds and the Investment Association.

($1 = 0.7971 pounds)