Philippine HNWIs maintain strong home bias
A preference for local investment products limits investor allocation to feeder funds, according to industry sources.
High Net Worth
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Millionaire investors short-termism due to ‘information overload’
More than two-thirds of high net worth investors say they suffer from ‘information overload’ and admit being easily distracted by short-term developments in politics and the economy.
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40% of entrepreneurs prefer lifetime gifting in estate planning
Two fifths of business owners and entrepreneurs are pursuing a “giving while living” approach when it comes to estate planning, according to a new report by RBC Wealth Management, creating the “biggest opportunity” for financial advisers.
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Italy introduces non-dom tax breaks to lure wealthy foreigners
Italy has introduced a flat rate of tax aimed at attracting wealthy expats to its shores as it looks to compete with similar regimes offered in the UK and Spain.
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Ireland triples tax take from super wealthy, raking in €500m
More than half a billion euros was collected by the Irish tax authorities last year from 571 of the country’s wealthiest individuals.
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Trump’s travel ban may lead to UK ‘influx’ of foreign HNWIs
US president Donald Trump’s controversial travel ban of some Middle East citizens could result an “influx” of high net worth individuals (HNWIs) from the region coming to the UK, according to London and Geneva-based law firm Collyer Bristow.
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HMRC under fire for £1bn fall in wealthy tax take
HM Revenue & Customs has come under attack for not explaining a near £1bn (€1.17bn, $1.25bn) drop in income tax receipts from high net worth individuals in a scathing new report by a UK parliament select committee.
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Lombard Int’l welcomes growing complexity in life products
Lombard International Assurance welcomes the increasing complexity in providing cross-border planning solutions for high net-worth families as it is their bread and butter, and one of the reasons the company has grown so successfully over the years.
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Hong Kong seeks private bankers for local, mainland clients
There is a huge demand for relationship managers to look after high net worth (HNW) clients in Hong Kong and mainland China, a trend which is expected to continue in the coming year.
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Newly-launched platform targets Singapore’s HNW and US expats
Crossbridge Capital and Morningstar are collaborating on a newly-launched digital advisory platform that targets high net worth (HNW) individuals and US expats, which they believe are under-served in Asia.
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China partnership a route to HNWI opportunity, says UBP
A partnership with an onshore bank is the preferred path for access to the mainland HNW base, according to Michael Blake, Union Bancaire Privee’s chief executive of Asia.
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Wealthy investors reducing UK exposure post Brexit
Most high net worth individuals are looking to reduce their exposure to UK-based assets in the wake of the country’s vote to leave the European Union, according to deVere Group.