Robo-advisers will struggle to make profit, says Morningstar
Robo-advisory firms will have to eat through all of the capital they raised in order to reach a profitable scale, according to fund research firm Morningstar.
Robo-advisory firms will have to eat through all of the capital they raised in order to reach a profitable scale, according to fund research firm Morningstar.
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Harwood Capital’s acquisition of Wellian Investment Solutions is by no means on a par with the Old Mutual’s acquisition of Quilter Cheviot. Nor is it of a size similar to Towry’s purchase for £97m of AIM-listed Ashcourt Rowan. But, what the deal lacks in size, it could well make up for in intent and symbolism.
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Post-RDR, the passive and active camps have both moved on, with debates around active share, index biases and cost all coming to the fore in the spirit of innovation.
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The time line for the roll-out of the implementation of MiFID II does not leave a lot of breathing room for wealth managers to get their technology up to speed, the Wealth Management Association said.
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A model portfolios boom is well under way and it seems to be picking up pace.
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Saunderson House is to roll out a discretionary management service by the end of 2015, the firm announced in its interim management statement.
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Charles Stanley has entered into an exclusive agreement with Panmure Gordon to sell off the Charles Stanley Securities unit, excluding the equity sales trading operations.
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UBS Wealth Management helped propel group profits 88% higher in the first quarter, the firm announced in its quarterly statement.
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The rise in robo-advice should not be ignored by the likes of Hargreaves Lansdown and St James’s Place, but it is unlikely to have a major impact on their operations in the next few years, Numis said
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Smith & Williamson Investment Management has appointed Lucy Mitchell as an associate director.
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Credit Suisse has announced first quarter profit up 23% on this time last year to CHF 1.1bn, in large part due to its wealth management division.
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Advisers should tweak their mandates to capitalise on the wave of fresh money coming from lower net-worth individuals in the new pension environment, according to FEIFA’s Paul Stanfield.
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