Daily News Analysis
17 June 2013
JP Morgan's private investment arm, One Equity Partners, will raise its next fund from an external group of limited partners, as it becomes independent from the New York-listed firm. One Equity Partners, which currently manages approximately $4 . 5 billion of investments for JP Morgan in direct private equity transactions, will continue to manage the existing group of portfolio companies for JP Morgan so as to “maximize value for the firm,” it said in a statement.
14 June 2013
Royal Bank of Canada could channel up to C$5 billion ($4. 9 billion) into acquisitions to bolster its wealth management business, the firm’s chief financial officer, Janice Fukakusa, reportedly told attendees at a conference in New York this week . According to Bloomberg, Fukakusa said any move valued at between C$500 and C$2 billion would be “pretty manageable.
7 June 2013
BNY Mellon’s Pershing has created an online practice management center, bringing its range of materials including interactive tools, thought leadership and white papers into one location. Information is grouped into four segments - growth, human capital, operational efficiency and managing risk - and then also assigned to a topic within each segment . “The value of practice management has become more important than ever as advisors take on a greater role in managing their own business,” BNY Mellon said.
6 June 2013
Morgan Stanley Wealth Management confirmed that it has recruited advisors in Plantation, FL, and Miami, FL, from Wells Fargo and UBS respectively. In Plantation, Ricardo Kent joins from Wells Fargo and reports to branch manager Giovanni Renteria and complex manager Billy Van Scoyoc . Kent has a T-12 production of about $1 million and oversaw $100 million in assets at his former firm.
5 June 2013
The days of creating “respectable” profit margins via arduous cost-cutting are over, Greg Fleming, who runs Morgan Stanley’s wealth and asset management business, told attendees at the annual Reuters Global Wealth Management Summit in New York. Fleming said he intends to splash $500 million on technology by the middle of next year, alongside three other business strategies, all of which will encourage growth through spending . “We are driving growth and the top line rather than primarily on the expense side of the equation,” he told Reuters.
13 May 2013
Here, top executives at Citi Private Bank explain how the bank’s “Voice of the Client” initiative has rapidly gained traction among both staff and clients.
11 April 2013
WE Family Offices is trying to change the landscape of high-end wealth management with its offering focused on “wealth as an enterprise.”
2 April 2013
Mexico is home to the world’s richest man in the form of telecoms magnate Carlos Slim, but its wealth management market has not received the attention of Brazil’s. That may be changing as the emerging economy garners attention from the industry.
27 March 2013
GenSpring Family Offices is in some ways a poster child for the multi-family office industry: it grew assets under management very quickly for many years but has recently had to tackle problems that come with this increasing scale.
25 March 2013
Relevancy, transparency and ease of use emerged as goals for wealth management firms to strive for in delivering client-centric communications at a recent event of industry leaders held in New York.
News and Features
Comment and Analysis
The rising level of financial sector regulation means that fewer firms will be able to offer the full suite of wealth management products, according to the RBC/Capgemini World Wealth Report.
19 June 2013
Here Diane Harrison, principal and owner of Panegyric Marketing, argues that the debate over fees in the hedge fund industry often focuses on the wrong topics.
20 March 2013
Here, Jimmy Chang, a senior portfolio manager and a managing director of Rockefeller & Co, discusses some issues around investing in the current environment.
4 April 2013
The period between 2008 and 2012 saw an uptick in risk reviewing business at New York’s Rothstein Kass Family Offices Group, says partner Evan Jehle.
9 April 2013
Building functionality into a family’s business affairs involves defining each person’s role but it’s never easy to think differently about family members who were children at the dinner table, but are now adults around the board table.
8 April 2013
Marc Odo, director of research at software and business intelligence firm Informa Investment Solutions, discusses why diversification failed during the credit crisis.
25 March 2013