Less than a quarter of HNWs invest offshore for tax reasons
Only 23.2% of global high net worth (HNW) wealth is invested offshore for tax reasons, according to financial services research and insight firm, Verdict Financial.
South Africa
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Clients’ great expectations challenge Sth African advisers
South Africa’s leading independent financial advisers have called on the sector to embrace change to meet the great expectations of the next generation of clients and regulators.
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Spotlight on financial adviser Carrick Wealth’s training academy
Earlier this year, South Africa-based Carrick Wealth launched its flagship Invictus programme, a training academy aimed at the company’s would-be advisers.
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African dream: a profile of Carrick Wealth
Craig Featherby’s start-up, Carrick Wealth, has hit the ground running, benefiting from South Africa’s burgeoning offshore funds market. He shares his inside view on the country’s current economic troubles.
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Old Mutual Wealth hires new COO as group break-up approaches
Old Mutual Wealth has appointed Steven Braudo as chief operating officer, effective 1 June 2016.
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Old Mutual to break into 4 new businesses
South African financial services group Old Mutual has decided to break up its business into four separate units as it believes they will perform better independently.
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Barclays to sell its stake in Africa bank
Barclays Bank has announced its intention to sell its 62.3% stake in its African business, Barclays Africa Group Ltd (BAGL) over the next two to three years as it faces regulatory pressure over capital requirements and FX erosion.
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S. African tax amnesty to aid small firms and individuals
Individuals and small, closely held business entities will be the most affected by the South African offshore tax amnesty which is due to begin in October, according to EY.
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Moody’s cuts Saudi growth outlook amid ratings slide
The impact of lower oil prices has caused ratings agency Moody’s to revise down its economic outlook for Saudi Arabia, in a week which saw rival agency Standard and Poor’s announce a two-notch downgrade of the country’s sovereign ratings.
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Momentum buys London & Capital DFM business
Momentum UK, has expanded into the British DFM market with the acquisition of London & Capital’s Adviser Solutions business for an undisclosed sum.
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Business strategies: A question of scale
In the final part of a three part series examining the retail distribution review landscape in South Africa, Brian Foster questions the wisdom of thinking big when it comes to advisers growing their businesses.
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Allan Gray family transfers control of business to charity
Allan Gray, founder of the South African-based investment management firm which carries his name, and his family have moved their controlling stakes in the Orbis and Allan Gray groups into a new charitable foundation.