Two trillion dollars and growing: the rise and rise of Morgan Stanley 23/07/2014
New York-based Morgan Stanley, along with Bank of America Merrill Lynch and UBS, dominant the global hierarchy of wealth management firms in terms of client assets under management (see thewealthnet 11/06/2014). So the news that it has just crossed the $2 trillion dollar threshold in this respect shouldn’t, at first glance at least, have caused much of a surprise.
MIFID II - just when you thought it was safe to go back into the water 22/07/2014
Abandoning the Retail Distribution Review's definition of independence and storing phone recordings for seven years could be among the regulations wealth managers will have to contend with in MIFID II according to the Wealth Management Association.
Anatomy of a Merger - Part Three 22/07/2014
Switzerland is not usually associated with transparency, especially within a private banking and wealth management context. Decades of bank secrecy created a miasma that often obscured much of the sector from the prying eyes of analysts, commentators and tax authorities.
Tips for AIFMD risk compliance – expert's comment 21/07/2014
With the AIFMD deadline only a day away, risk management solutions firm RiskSystem’s Simon O’Sullivan spoke to thewealthnet about preparing for the new rules, as well as about the impact the implementation will have on AIFMs.
Cycling and the science of better investment management 18/07/2014
Schroders’ decision to recruit Shane Sutton, British Cycling’s head coach, as a consultant, makes perfect sense given the extent to which sporting terms and metaphors are used in the banking and financial services sector.
The Guardian's Kleinwort Benson revelations: Another case of people in glass houses shouldn't throw stones 16/07/2014
The Guardian caused a stir of sorts when it revealed that courtesy of the New York based International Consortium of Investigative Journalists (ICIJ) it had come into possession of details about the offshore dealings of 20,000 former current and past clients of Kleinwort Benson (see thewealthnet 09/07/2014 and 10/07/2014).
Making the best of the property market 16/07/2014
When investing in property, Central London usually leads in performance. In the last eighteen months the capital has seen a huge surge in overseas buying, and experienced rental growth first. However, the good performance has started to feed out with the economy to other regions in the UK, James Lloyd, executive director at property boutique Mayfair Capital, told thewealthnet.
The investment case for an independent Scotland 15/07/2014
Much of the debate concerning Scottish independence has focused on economic matters. Unfortunately, however, this has tended to overlook the implications for investors, especially for those that invest in “Scottish” companies.
Fifty Shades of Common Sense 14/07/2014
Net interest income and banking fees are still important sources of revenue for UK private banks 11/07/2014
Investment management-related fees and commissions are often assumed to account for the vast majority of wealth managers revenue (especially by “analysts” attempting to estimate client assets under management for data challenged firms). But this isn’t the case at UK-based private banks, as the findings from ComPeer’s latest UK Wealth Management survey conclusively demonstrates.