Managers of Wealth

End of line for 'free' financial advice

Analysis by the FSA before it launched its review suggested consumers were losing £43m a year because of advisers, driven by commission, encouraging them to switch pensions.

Tax cuts 'fail to stop more than half of Britain's super-rich losing confidence in Osborne'

A ‘Millionaire Monitor’ survey of the country’s super-rich revealed that more than half of them now have ‘no confidence’ in the Government’s ability to lead the country out of recession.

Swiss see no sign of mass German money exodus ahead of tax deal

After the two countries struck the tax deal in April, some Swiss bankers advised clients to transfer funds to Singapore or elsewhere before it was enforced, according to a German media report.

Private banks try to become more exclusive

Earlier this year HSBC shut down its in-branch financial planning arm, resulting in the loss of 550 adviser jobs. The bank still offers investment advisory services for “Premier” customers with about £150,000 in investable assets.

Julius Baer confirms purchase of Merrill Lynch private bank outside US‎

Approximately two thirds of IWM AuM are from clients domiciled in growth markets in Asia (more than half), Latin America and the Middle East.

BNP Paribas wins global private bank custody contract

Following an extensive tender and due diligence process to rationalise the business and optimise costs, the Bank’s management chose to consolidate its assets under custody with BNP Paribas based on the custodian’s global reach, technology offe

OCM Wealth Management expands with Hertfordshire firm merger

Stather-Lodge said he planned to attract more advisers to work under the OCM brand and use its centralised investment proposition.

Julius Baer bulks up in Asia with Merrill deal

Julius Baer's acquisition of the loss-making unit means that about half of all the Swiss bank's clients will be in faster-growing emerging markets - chiefly Asia but also Latin America and the Middle East - up from around one third now.

Swiss-Saudi tie-up targets $500 bln Islamic charity market

Waqf, or charitable endowments invested according to Islamic principles, are often used to fund schools and hospitals, but the charitable trusts that generally manage them tend to produce poor returns.

Kiernan hires Clements-Hunt to push sustainability fund to BRICs

Kiernan founded asset management firm Inflection Point Capital Management (IPCM) in 2010 after selling Innovest Strategic Value Advisers – the investment research firm he established in 1994 that specialised in environmental, social and governance i

Germany's Wealth Grab

The impulse to soak the rich isn't exclusively French.

Canaccord Open to Making Smaller U.K. Wealth Acquisitions

Paul Reynolds, president and chief executive of Canaccord, said the independent brokerage firm would "take a look" at small acquisitions in the U.K. that would prove "fairly attractive or highly accretive" to the company.

Julius Baer confirmed as Best Boutique Private Bank in Asia

Julius Baer has been confirmed as the third-time winner of the Best Boutique Private Bank in Asia award by The Asset magazine, a leading Asian trade publication.

Swiss private bank close to deal to buy Merrill Lynch's Non US wealth units

A full announcement is expected on August 13th.

The Wealth Manager for Rich Geeks

Financial advice is a tricky sell in the Valley. The place is full of Ph.D.s with problem-solving skills, an unusually strong aversion to fees, and no clue what to do with their money.

Wharton and IPI Formalize Network to Educate Wealthy Investors

The dinner meetings will be held three times a year, Wharton and IPI said in a statement. After the New York dinner, the next gathering will take place in March in San Francisco.

Sanlam Private Wealth snaps up three advisory books

The firms has acquired Oakdene Practice in Bristol, Parkgate Financial Solutions in Warrington and Libra Associates in Dorset.

France's richest citizens to flee President François Hollande's proposed 75 per cent tax on one million euros

The 75 per cent tax plan for the rich to "pay extra tax to get the country back on its feet again" will come before the Parliament next month.

German State Buys More Data on German Investors From Swiss Banks - Report

A spokesman for the state's Finance Minister Norbert Walter-Borjans told Dow Jones Newswires the minister doesn't comment on single cases, and that the ministry receives and examines data regularly.

UBS, State St discussed asset managemt merger

It is unclear why the discussions fell through, although one of the sources said he believed it was because the two companies could not agree on pricing and succession.

Wealth and Asset Management