Wealth management

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Old Mutual Wealth: Getting to the bottom of negative transaction costs

Old Mutual Wealth’s Jeremy Mugridge explains why some transaction costs appear as a negative figure on a platform, following a Money Marketing article this week The regulatory regime brought in by Mifid II and Priips is beginning to bed in, and some of the more bizarre implications of the vast legislation are beginning to pop […]

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SEI Wealth Platform sees £9bn boost to AUM

SEI Wealth Platform has seen assets under management grow by £9.3bn over the past year, but is targeting further growth in the year ahead. The platform, which provides outsourced investment services for private banks and wealth managers, says total assets under management have grown by 33 per cent, thanks to a combination of increased net […]

French manager calls out ‘cheeky’ rivals over Mifid II research rules

French asset manager Carmignac has called for more clarification on the new research costs rules under Mifid II as it claims rival firms have wrongly stated what the directive means for their business. Speaking to Money Marketing after an event in Paris, Carmignac managing director Didier Saint-Georges referred to asset managers as “cheeky” in their […]

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Smith & Williamson confirms ex-Towry chief’s appointment

Smith & Williamson has confirmed former Towry Group chief executive Andrew Fisher has been appointed a non-executive director. Fisher, who was also chief executive of Coutts, succeeds Bob Bogart, who resigned last year. His appointment is effective immediately. Smith & Williamson refused to comment on his appointment when contacted by Money Marketing at the start […]

Bellpenny set to ditch branding following Ascot Lloyd merger

Advice firm consolidator Bellpenny is set to ditch its branding following its merger with Ascot Lloyd last year. Money Marketing understands the new identity will be under the Ascot Lloyd brand, despite initial claims last year that both companies and Bellpenny’s independent advice arm, BIA Financial Planning, would keep their own branding. The company would not […]

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Specialist IFA restructures as clients land more in damages

Frenkel Topping has announced it is restructuring its business after changes to clinical negligence and personal injury claims rates materially improved the outlook for the specialist IFA and asset manager. The Manchester-headquartered business announced this morning it has completed its second strategic review for the year, led by its new executive chairman, Paul Richardson, who was […]

Schroders to offer wealth management services to US clients

Schroders has established a new London-based wealth management company to cater for high net worth US clients who live in the UK or North America. Schroder Wealth US will sit alongside Cazenove Capital in the wealth management division, subject to regulatory approval. Martin Heale will head up the US wealth management team at Schroder Wealth […]