Bellpenny plans to continue buying spree
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.
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.
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Demographics and regulatory issues are likely to continue to drive M&A within the wealth management space, says Bellpenny CEO, Kevin Ronaldson.
While a few notes of caution were raised in the spate of wealth manager results released in the last few days, the outlook is generally fairly sanguine.
According to Brewin Dolphin, it remains on track to finalise its new advisory pricing structure by year-end but has seen outflows from the business as a result.
Despite improved cost control and an increase in assets under management, the groups wealth management division saw earnings fall.
Ashcourt Rowan announced today COO, Richard Sinclair, has stepped down with immediate effect.
A move away from third-party administration and a continued reorganisation of the business has reaped rewards.
Schroders is among the new investors in an online wealth management platform called Nutmeg.
The wealth manager saw a 215% jump in pre-tax profits as redundancy costs fell and discretionary AUM rose.
Reporting a 6% jump in operating profit for the year to end March 2014, Investec said its wealth and investment business grow just over 30%.