In this month’s episode of WealthDFM Talk, our last one for 2025, Matt Williams and Sue Whitbread turn their attention to the other side of the Atlantic by discussing US small caps, a sector that’s struggled to keep up in recent years but may now be showing signs of opportunity.

With the AI revolution rolling out at speed and valuations looking increasingly attractive, could now be the time for investors to rediscover US small caps?

To help answer that question, we’re joined by Dan Scott Lintott, Investment Analyst at De Lisle Partners, who shares his insights on what makes a compelling small-cap investment, how AI could reshape the landscape, and his outlook for the US market as we head towards 2026.

Episode highlights:

• The current environment for US small caps – and why they may be due a reappraisal
• What Dan looks for in a US small-cap company, from fundamentals to valuation discipline
• How AI adoption could create new opportunities in smaller US companies
• Dan’s outlook for the US economy and markets heading into 2026

The UK investment management industry is booming - and the numbers prove it. According to the latest figures from the Investment Association (IA), total assets under management hit a record-breaking £10 trillion in 2024, marking a 10% year-on-year increase.

It’s a remarkable milestone that reflects a year of strong market performance, growing overseas interest, and a surge in retail investor participation. For the first time, overseas clients now account for more than half of UK-managed assets, while retail investors have overtaken pensions as the largest single client group.

In this latest episode of the WealthDFM Podcast, hosts Sue Whitbread and Matt Williams are joined by Miranda Seath, Director of Market Insight and Fund Sectors at the Investment Association, to assess what’s behind these record-breaking figures and what they mean for wealth managers, advisers, and the wider investment community.

Together, they discuss:

• What’s driving the UK investment management sector’s 10% AUM growth
• Why overseas investors are increasingly choosing UK firms to manage their assets
• How retail investors are reshaping the market and what this means for future product and advice trends

As Miranda explains, these shifts reveal both opportunities and challenges for the UK as a global centre of investment excellence and for advisers helping clients navigate an evolving marketplace.

In this month’s episode of Wealth DFM Talk, Sue and Matt are joined by Jo Rands, Portfolio Manager with the Franklin Templeton UK Equity team, to explore why now could be the moment for wealth managers to take a fresh look at UK equities.

Jo shares why she believes there’s a compelling case for increased allocations towards UK large-caps over the next two to five years. Despite persistently low valuations since Brexit, momentum is finally building in the UK equity market.

With the FTSE 100 up by around 10% so far this year, rate cuts from the Bank of England, and renewed investor interest, could the UK be an overlooked opportunity that’s ready to deliver?

In the conversation, Sue and Matt ask Jo about:

• Why the UK market may be far more exciting than many assume

• How income investing and total return strategies work hand in hand

• The growing role of share buybacks in boosting overall returns

• Key sectors – including tobacco, utilities and banks – where she sees attractive valuations and income opportunities today

Jo argues that the UK equity story is far from boring. In fact, she sees it as a true British underdog, with yield providing a distinct advantage not always replicated overseas, as well as attractive valuations and discounts.

Listen now to hear why UK equities could be one of the most compelling opportunities for investors in the years ahead.