Ultra-wealthy missing out on ‘huge returns’
Risk averse high-net worth investors are losing out on significant returns, as more than a third of the average portfolio is held in cash new analysis by UBS has revealed.
News
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France delays tax cuts until 2019 as austerity bites
French prime minister Edouard Philippe has announced that the government will have to delay planned tax cuts until 2019 due to the poor state of the country’s finances.
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HMRC wins long-running case against Rangers football club
The UK Supreme Court has ruled in favour of HMRC in its seven-year pursuit of Rangers Football Club for aiding and abetting tax avoidance using Employee Benefit Trusts (EBTs).
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Selectapension suspends Qrops transfer service after FCA audit
A UK firm which writes third party Qrops transfer reports has suspended its defined benefit pension transfer business following an FCA audit.
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AI robo-adviser Aqumon the latest to launch in Hong Kong
A robo-adviser that uses machine learning to create a balanced investment portfolio for clients is the latest automated service to launch in Hong Kong amid a string of new entrants into the competitive market.
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Eight tips to consider before advising millennials
Today’s millennials are tomorrow’s clients, says Craig Featherby, chief executive of South African advisory firm Carrick Wealth. Their different attitudes to things like money mean millennials use language differently to talk about it. In order to advise them, we need to understand how they communicate, he adds.
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Standard Life adds offshore bond to Elevate platform
Standard Life has announced that its offshore bond will now be available on the UK insurer’s adviser platform business Elevate.
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Ex-Spurs star Ramo Vega’s Swiss AM told to refund £60K fees
A wealth management firm founded by former Spurs footballer Ramon Vega has been ordered to refund nearly £60,000 ($68,330, €68,330) in fees by the UK’s financial ombudsman.
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Tax planning trustees warned over beneficial register deadline
Many trustees will have too little time to comply with the new rules for the beneficial ownership register of trusts, and others will have huge amounts of information to gather, international audit, tax and consultancy firm RSM has warned.
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Expats leaving Saudi must pay new ‘family tax’ upfront
Expats living in Saudi Arabia will have to pay the newly-introduced ‘family tax’ upfront if they want to leave the Kingdom for any reason, the government has confirmed.
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Best and worst funds in Asia in June 2017
UBS, Allianz, Schroders, Blackrock and Castlestone have funds that are among the best and the worst performers in June 2017.
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China cuts and delays VAT levy on asset managers again
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.