MUFG Investor Services, the global asset servicing group of Tokyo-based Mitsubishi UFJ Financial Group, has agreed to acquire mutual fund administration business Rydex Fund Services from Guggenheim Partners.
The visibility of data to which platforms have access is going to become increasingly valuable says Barry Neilson, business development director at Nucleus.
The Central Bank of Ireland has fined Axa Insurance €675,000 (£567,263, $747,860) for failing to ensure that staff members advising on retail products were appropriately supervised.
Growth in exchange traded funds (ETFs) is expected to accelerate over the next five years driven by financial advisers and platforms, with global assets under management (AUM) set to exceed $7trn (£5.3trn, €6.3trn) by 2021, according to a PwC report.
The British tax office has set a new record by raising nearly £5bn ($6.6bn, €5.9bn) in inheritance tax (IHT), according to the latest figures from HM Revenue and Customs (HMRC).
In the increasingly and often unnecessarily complex world of personal finance, the biggest value of a financial adviser may be in managing customer behaviour, argues John Astrup, who runs the Zurich savings and investment propositions in the Middle East.
French insurer Axa has entered into a worldwide strategic partnership to distribute its insurance products and services through the global ecommerce ecosystem of China’s Alibaba.
The Association of British Insurers (ABI) has produced a new guide to inform customers with HIV about life insurance.
Generali has confirmed that a top executive in Asia has resigned, while a Schroders veteran is set to leave the company after a recent corporate restructure saw his role disappear. Standard Chartered, meanwhile, has named a heavy hitter from the IMF as its next chairman and appointed a private banking regional head in Asia.
One of Asia’s largest insurer AIA has reported a whopping 60% growth in the value of new business from mainland China as regulators struggle to stem the flow of personal wealth leaving the country via Hong Kong’s offshore insurance industry.
The UK arm of Dutch insurer Aegon is to stop writing new annuities from the fourth quarter of this year, and has agreed to pass clients seeking the product onto Legal & General.
Henderson Global Investors said it saw significant Brexit-related outflows from European equities and property funds in its first half.
