Australia’s AMP gets profit boost from wealth management
A strong performance from its wealth management arm helped Australian insurance group AMP boost profits by 10% in the year to 31 December 2015.
Wealth Management
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Key traits the experts look for in a wealth manager
Whatever anyone says, past performance is still used as a guide when allocating clients’ money – but it is thankfully not the only guide.
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Model Portfolio Manager tool launched on Novia platform
International intermediaries platform Novia Global launched its new Model Portfolio Manager (MPM) tool on Thursday, making it available to users of the company’s wealth management service.
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Abu Dhabi’s ADCB launches regionally focused private bank
Abu Dhabi Commercial Bank (ADCB) has launched a new private bank aimed at providing wealthy clients in the Gulf region with sophisticated banking and wealth management services.
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Montpelier Malaysia reopens office
Following the sudden closure of the Kuala Lumpur office of wealth management firm Montpelier Malaysia on Friday, company director Keith Bayliss has confirmed that staff returned to work on Monday.
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Sun Life revenue falls, confirms US wealth business closure
Net revenue was down by a quarter at Canada’s third largest insurer by assets, Sun Life Financial, during the fourth quarter and full year of 2015. The company also incurred a C$63m (£31.1m, $45.3m, €40.2m) restructuring cost related to the closure of its US wealth business.
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Indonesian tax amnesty a boost for wealth management sector
Indonesia is to offer generous incentives for tax evaders to regularise their finances, a move that has been welcomed by the country’s wealth managers, reports Reuters.
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Credit Suisse slumps after big 2015 net loss
Shares in Credit Suisse fell nearly 12% on Thursday after the bank reported worse-than-expected 2015 results, which included hefty net asset outflows in the final quarter.
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Outflows dampen UBS fourth quarter and annual results
Outflows from Europe and emerging markets dented UBS Wealth Management’s fourth quarter results, while annual inflows ebbed dramatically standing at less than a third of their 2014 levels.
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Ex-Hargreaves trio set up high-net-worth investment service
Former Hargeaves Lansdown executives, Alex Davies, Ben Yearsley and Marta Caricato have announced the launch of a new investment service for high-net-worth investors.
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UBS WM launches UHNW Academy in Asia Pacific
UBS Wealth Management is targeting its senior ultra-high-net-worth (UHNW) advisers with the launch of the investment bank’s UHNW Academy in Asia Pacific, as part of the training programme’s global roll-out.
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Inequality to stay until tax havens go, says Oxfam
There will be no end to the inequality crisis until world leaders end the era of tax havens, once and for all, according to a report from charity Oxfam.