After a drop off in sentiment in the previous three months, asset and wealth managers in the UK are more optimistic about their overall business situation, according to the latest CBI/PwC Financial Services Survey.
Find out which are the 10 most disruptive technological forces that are affecting the financial services industry, and what financial advisers need to do to avoid perishing in the new world order.
Goldman Sachs and Manulife have both made significant hires in Asia, while Standard Chartered has appointed a fresh private banking Emea head.
Liquidators for collapsed Isle of Man-based property investment firm Louis Group have said that, following legal advice, they will not pursue claims against Louis Group IoM’s insurers, its parent company in South Africa or founder Alan Louis, reports local newspaper IOM Today.
A second Isle of Man director of South Africa-headquartered Louis Group, which saw 700 investors lose at least £60m ($78m, €67.4m), has been disqualified as a director.
China has cut and again pushed back plans to levy a value-added tax on asset managers for returns on assets under management, adding a further six-month reprieve on an already 14-month grace period.
Two-thirds of chief executives in the asset and wealth management industry believe technology will reshape their business over the next five years, but just 10% are prioritising the development of digital skills and capabilities within their companies.
Two leading tax advisers have reacted to HM Revenue & Customs’ discussion document ‘Strengthening Tax Avoidance Sanctions and Deterrents’ following the closure of its consultation phase on 12 October.
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.
Global ETF assets under management is expected to climb to $7trn (£5.4trn, €6.3trn) by 2021 facilitated by steady growth in the North American, European and Asian markets, a new PwC survey shows.
Wealth management is one of the least tech-literate sectors of the financial services industry, and is falling well behind non-financial services industries, according to a new report from PwC.
A report from PwC suggests that pay and rations will change dramatically as our industry – and the pressures on it – continue to evolve.
