Key Takeaways
- • Cambridge Associates and Stanhope Capital are tied as the most-named investment consultants to UK charities in Dakota Marketplace's 2026 league table, each on 17 charity accounts (Dakota Marketplace, October 2026).
- • Only 156 of 1,746 UK charity, endowment and foundation accounts name an investment consultant, about 9% or roughly one in eleven, while about 1,200 name an investment manager.
- • Consultant use rises with size: 26% of charities above $1 billion name a consultant, against 4% of those under $25 million.
- • Cambridge Associates' 17 clients hold a combined $7.5 billion with a median of $222 million, while Stanhope Capital's 17 hold $2.9 billion with a median of $125 million.
- • Of the 156 consultant-advised charities, 116 also name their investment managers, and those managers are more often institutional firms than a single wealth manager.
Summary
Dakota Marketplace's 2026 league table ranks the investment consultants advising the most UK charities. Cambridge Associates and Stanhope Capital are joint leaders, each named on 17 charity accounts. Marsh (formerly Mercer) follows with 10 accounts, and Redington and Asset Risk Consultants are each on nine. Lane Clark & Peacock (eight accounts, $4.6 billion combined) and Barnett Waddingham (seven) also feature, with Portfolio Review Services, JT Financial Management and Epoch Consulting Group rounding out the top ten. Combined charity assets are shown for each firm, though Marsh's total of $15.2 billion is dominated by the Church Commissioners for England at $14.1 billion. The figures reflect the investment assets of client charities, not assets under advice.
Consultant use remains the exception among UK charities. Of 1,746 charity, endowment and foundation accounts in Dakota Marketplace, 156 name an investment consultant. The share rises steadily with size, from 4% of charities under $25 million to 26% of those above $1 billion. The data suggests that charities running a panel of managers rely on consultants to set strategy, run manager searches and monitor results, whereas those placing their portfolio with a single wealth manager have little need for one.
Cambridge Associates advises larger endowment-style portfolios, including The Henry Smith Charity ($1.9 billion) and Paul Hamlyn Foundation ($1.2 billion). Stanhope Capital's clients sit one tier down, led by the Society of Jesus Trust of 1929 ($902 million) and Morden College ($392 million). Managers named on Stanhope-advised accounts include Baillie Gifford, BlackRock and Rathbones, each appearing on four accounts. Redington advises nine charities holding $2.4 billion, led by The Health Foundation ($1.6 billion).
According to Dakota, consultant-advised charities are likely to appoint specialist managers directly, which the publication presents as the relevant prospect for institutional fund managers. Dakota also notes that 27 UK charity accounts name a real estate consultant, and only two name a private equity consultant. Roughly four in five consultant-advised charities hold under $250 million.
Consultant use remains the exception among UK charities. Of 1,746 charity, endowment and foundation accounts in Dakota Marketplace, 156 name an investment consultant. The share rises steadily with size, from 4% of charities under $25 million to 26% of those above $1 billion. The data suggests that charities running a panel of managers rely on consultants to set strategy, run manager searches and monitor results, whereas those placing their portfolio with a single wealth manager have little need for one.
Cambridge Associates advises larger endowment-style portfolios, including The Henry Smith Charity ($1.9 billion) and Paul Hamlyn Foundation ($1.2 billion). Stanhope Capital's clients sit one tier down, led by the Society of Jesus Trust of 1929 ($902 million) and Morden College ($392 million). Managers named on Stanhope-advised accounts include Baillie Gifford, BlackRock and Rathbones, each appearing on four accounts. Redington advises nine charities holding $2.4 billion, led by The Health Foundation ($1.6 billion).
According to Dakota, consultant-advised charities are likely to appoint specialist managers directly, which the publication presents as the relevant prospect for institutional fund managers. Dakota also notes that 27 UK charity accounts name a real estate consultant, and only two name a private equity consultant. Roughly four in five consultant-advised charities hold under $250 million.
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