Wealth managers should go beyond a pure functional role and work more on the personal connection with high net worth clients, according to David Wilson, head of Asia wealth management at the consulting firm Capgemini.
Robo-advice and wealth management mobile apps are taking off in China, with a report from Boston Consulting Group showing online wealth management services have experienced 50% annual growth over the past five years.
The asset and wealth management industry is about to usher in a period of disruption, with cyber security threats a big concern, chief executives across the sector have warned.
Regulatory change could continue the boom in demand for passive strategies, according to a survey by KPMG and Blackrock.
The Asset Management Association of China (AMAC), the fund industry’s self regulatory body, has sharply criticised an online fund marketing campaign launched by a wealth management arm of e-commerce giant Alibaba, involving 16 fund managers.
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.
Having hit a high of 9% in June, wealth managers cut their weighting in cash to 6.99% in the past three months in the Trustee MPI low-risk mandates.
Banque Transatlantique, part of French banking group Crédit Mutuel-CM11, is launching a wealth management business in the UK.
The number of firms engaged in financial planning in Malaysia has increased by 45% since 2015, while the number of licensed financial planners has grown by around 23%, according to Ahmad Fairuz Zainol Abidin, Malaysia’s Securities Commission deputy chief executive.
Abu Dhabi Global Market (ADGM), the financial free zone in the capital of the UAE, has launched of a new legal structure to support the growth of its wealth management industry.
Hong Kong financial company Mason Group Holdings has announced plans to build an offshore wealth management business with at least $3bn (£2.3bn, €2.5bn) in assets from the ground up through a series of acquisitions.
Credit Suisse has identified Saudi Arabia as a priority for its wealth management business and is on the hunt to recruit more private bankers.
