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.
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.
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.
A model portfolios boom is well under way and it seems to be picking up pace.
Saunderson House is to roll out a discretionary management service by the end of 2015, the firm announced in its interim management statement.
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.
UBS Wealth Management helped propel group profits 88% higher in the first quarter, the firm announced in its quarterly statement.
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
Smith & Williamson Investment Management has appointed Lucy Mitchell as an associate director.
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.
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.
Charles Stanley has cut its total dividend for the year to end March 2015 to 5p per share and is planning a £15.8m share placing in an effort to rebuild its capital levels and refocus the business.
