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.
Bellpenny has said it intends to buy a further ten businesses by the end of 2015, following the completion of its latest wealth management acquisition.
Deutsche Asset & Wealth Management, the wealth management arm of Germany’s Deutsche Bank, said it had listed Europe’s first exchange traded fund to cover equities in the Middle East Gulf region, which will include Saudi Arabia.
