Wealth Management Industry News
A collection of Wealth Management latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
HSBC hires 100 wealth advisers in China
HSBC Holdings has hired 100 wealth advisers and is setting up a fintech venture in China as part of a plan to increase investment in the mainland despite plans to slash as much as 35,000 staff globally. The London-headquartered bank, which earned…
Covid-19 accelerates digital transformation at private banks
As markets plummet and liquidity dries up even the most sophisticated investor can be shaken. That's when they will call upon a trusted adviser, whether to seek short-term tactical advice or simply to be reassured that their diversified portfolio…
Polarised market challenges investing rules of thumb, says Pendal
With the world economy facing its biggest economic shock since the Great Depression, market bears can make the case there will be bankruptcies, permanently higher unemployment, and financial stress. Yet he says it's also possible to be 'quite…
AMP Wealth to pay 12% KiwiSaver contribution to staff on unpaid parental leave
KiwiSaver provider AMP Wealth Management will continue paying a 12 per cent employer contribution to staff who take unpaid parental leave, to help close the retirement savings gender gap among its workers. Women who take breaks from paid…
Edelweiss Reports Fourth Quarter Loss On Higher Impairment Costs
Edelweiss Financial services reported its first loss since at least 2008 on account of higher impairment costs. The non bank financial company reported a consolidated net loss of Rs 2,281.55 crore for the quarter ended March 2020, compared to a net…
Watch weak US dollar, bank says
By Kao Shih-ching / Staff reporter With the US dollar expected to weaken in the next 12 months due to near-zero interest rates, investors should consider purchasing US corporate bonds, Standard Chartered Bank Taiwan Ltd…
Condo or on-campus? Covid-19 changes the game for the parents of college kids
Published Sun, Jul 5 2020 10:45 AM EDT For years, buying real estate for your college student was considered a wise way to save on housing costs. In the wake of the pandemic, this is an increasingly risky bet. When Diane Pearson's sons both…
Edelweiss books Rs 2,819 cr pre-tax loss in Q4 on spike in provisions
Edelweiss Financial Services Ltd (EFSL) has posted a pre-tax loss of Rs 2,818.9 crore for the fourth quarter ended March 2020 (Q4FY20), following a huge rise in provisions for impairment on loans and financial instruments. The company had booked…
Edelweiss Group books Rs 2,245 cr net loss on upfront COVID provisioning
Edelweiss Group has reported Rs 2,245 crore loss in the quarter to March due to higher upfront provisioning for COVID-19 for possible credit losses across three lending and asset reconstruction verticals. The diversified financial services player…
Switzerland Snoozes on Corrupt Money Crackdown
Switzerland is squandering valuable lessons from the forced dismantling of banking secrecy a decade ago. As host to some of the world's largest corruption scandals in recent history, Switzerland displays a stunning lack of interest in the issue.
PATRICK: Weighing college funding options
How can you cover your child's future college costs? Saving early (and often) may be key for most families. Here are some college savings vehicles to consider. 529 college savings plans. Offered by states and some educational institutions, these…
With the benefit of hindsight…a blog on pension transfers in draft for 30 months
I never published this blog – it has been sitting in draft since early 2018. Re-reading it today, it is clear that everything the FCA are saying today was public knowledge in 2018. Judge for yourself, could and should the FCA have acted…
Abu Dhabi's Adnoc Hires Morgan Stanley Veteran Froehlich as CIO
Abu Dhabi National Oil Co., the state-owned energy giant that's using its assets to attract foreign investors, appointed former Morgan Stanley banker Klaus Froehlich as chief investment officer. Froehlich started in his new role at the end of June…
Announcement on the Completion of the New Manulife-ESR Joint Venture's
SHANGHAI/TORONTO/AMSTERDAM/HONG KONG – Media OutReach – July 6, 2020 – ESR Cayman Limited (“ESR”; SEHK Stock Code: 1821), Manulife and PGGM today announced that a new core joint venture (“Core JV”)…
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