Revolut wins FCA approval for private wealth push

Revolut secured FCA approval on May 14 to offer private wealth services and leveraged products in the UK.

Victoria Laffey, head of operations at Revolut Trading, said the new permissions are “the missing piece allowing us to unite investment, advisory and portfolio management under one roof, making them even more accessible.”

The Variation of Permissions gives Revolut Trading the regulatory tools to manage client investment portfolios and deal as principal, enabling leveraged investment products, discretionary portfolio management and advisory services for retail, professional and high-net-worth clients within a single platform.

FCA approval opens wealth management push

Revolut won a full UK banking licence from the Prudential Regulation Authority in March 2026 after a three year application process. The licence transformed the fintech from an electronic money institution into a fully regulated bank, providing the legal foundation required to expand into wealth management and lending.

The company is reportedly planning a private banking unit for later this summer, targeting clients with at least £500,000 in deposits. The minimum would position Revolut between Coutts, which recently raised its threshold to £3 million, and the mass affluent segment traditional private banks have largely left underserved.

Revolut’s wealth division has become a major revenue contributor. The company secured a MiCA crypto licence through Cyprus in October 2025, giving it passportable access to 30 European Economic Area markets for regulated crypto services. More than 10 million customers already hold or trade crypto on the platform.

The FCA permissions pair with Revolut’s broader regulatory expansion. The company applied for a US national banking charter in March 2026, targeting access to American payment rails and credit products ahead of a planned 2028 IPO. Wealth revenues at the firm climbed 31% to $876 million in 2025, with crypto activity cited as a meaningful driver.