HK rules seen as bottleneck to rise of robo-advisers
Hong Kong regulations require human involvement rather than an automated process in order to provide wealth management services, said iFast Financial (HK) chief operating officer Kelvin Yip.
Wealth Management
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Wealth management needs ‘uber’ moment to attract millennials
Millennials, the generation aged 18-34, need a “one-stop shop” where they can go to find information on how to invest, the UK’s Wealth Management Association (WMA) has urged.
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Wealth managers way behind digital trend, PwC says
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.
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AES picks Xplan software to automate its business
AES International has decided to implement the advice and wealth management platform Xplan, developed by Australian technology company IRESS, to help remove time-consuming manual processes across its business.
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Robo-advisers on the rise, CFA survey shows
Robo-advisers will have a significant impact on the financial services industry over the next five years, a global fintech survey by CFA Institute showed.
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Focus Financial enters Australia after signing up MW Lomax
The US-based partnership of independent wealth management firms, Focus Financial Partners, has expanded its international network to Australia by signing up the Melbourne-headquartered MW Lomax Group.
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Wealth managers losing faith in equities, survey finds
Wealth managers and financial advisers are losing faith in equities according to a new survey from Royal London Asset Management.
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Holborn Assets managing partner Reg Ormond dies suddenly
Managing partner of Holborn Assets, Reg Ormond, has died at the age of 50 from a sudden heart attack.
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Deutsche AM revenue down 12%, Wealth down 8%
Deutsche Asset Management reported a net revenue decrease of 12% in the first quarter, dropping to €736m (£571.2m, $832.4m) from €840m in 1Q15.
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‘Respectable’ results see Schroders AUM hit record
Better-than-expected institutional net flows helped push group assets under management to a record £325bn ($473.6bn, €418.7bn) in the first quarter of 2016, Schroders said on Thursday.
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UAE regulator SCA extends scope to cover financial planning
The Securities and Commodities Authority (SCA) in the UAE has amended its regulations to enable licenced advisers to offer clients a full financial planning service, creating a “distinct line” between its remit and that of the Insurance Authority.
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Australia’s NAB restructures HNW business
The National Australia Bank Group, one of the country’s big four banks, has restructured its high net worth (HNW) business, which will see its private banking arm renamed NAB Private.