High Net Worth
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Pádraig Floyd

From gamekeeper to poacher – mandarins easily shed their skins

Until I got on the train this morning, I knew exactly what I was going to write about in this column. It was then, as I sat thumbing through the press releases on my BlackBerry, that I saw something that changed my mind.

Wilkins: UK is attracting families globally

Rapid family office expansion in capital could see London become European hub

A rocketing number of family offices are establishing themselves in London, with assets coming from Europe, the Middle East and the Far East, as well as within the UK.

FSA considers laying down rules for Sipp transfers

The Financial Services Authority (FSA) claims it is not aware of the long-running problems with transferring a Sipp to a different provider, but warns it will issue guidance should it be presented with evidence of sloppy behaviour.

News in brief

Guernsey: ‘business still coming through’

Caution recommended for offshore centres during slow market conditions

Offshore financial centres have so far managed to weather the global economic storm, but finance chiefs have told HNW they remain cautious.

Trend for sustainable assets looks set for HNW success

Sustainable investments by high net worth individuals (HNWIs) will exceed E1trn by 2012, research by the European Sustainable Investment Forum (Eurosif) has revealed.

Gem and metal price boom should prompt collectors to revalue

Jewellery collectors must beware of underinsurance as the price of diamonds and precious metals soars.

News in brief

Barnett: can be difficult to achieve simplicity when implementing tax rules

Industry views at odds over potential benefits of reforms to capital gains tax

Despite figures indicating that 35% more people will pay capital gains tax (CGT) this year, industry figures claim that the tax reform’s benefits still outweigh the negatives.

Banks tailor offerings for particular HNWIs

Private banks are launching more and more bespoke services to specific categories of high net worth (HNW) clients, with Indian HNW individuals (HNWIs) and sports stars the latest to benefit from

News in brief

Hall: benefits must be passed to the client

Advisers’ message to wrap providers: It’s time to focus on client requirements

Having established itself as the technology model for servicing clients, wrap providers must do better to meet the expectations of their clients, say advisers.

IFAs back investment in Middle Eastern markets

Move over China and India, HNWIs are now after a slice of the Middle East.

Cann: firms are delivering a review service to clients

Quality of advice shows signs of improvement

The Financial Services Authority (FSA) has recently distributed its latest Quality of advice findings. Even though it acknowledges that progress has been made, there are still some very worrying statistics appearing.

Properties selling for below £175,000 will be exempt from stamp duty for a year

Low level stamp duty cut for 12 months to reduce costs for landlords and buyers

House prices are continuing to slide and house sales are at their lowest for 30 years, but landlords have been given a glimmer of hope by the chancellor.

Hudson hawks new holistic wealth model

Rob Hudson has been appointed by Chartwell as part of an ambitious plan to replicate Hargreaves Lansdown’s successful direct business and develop a holistic wealth management business.

Langley: advisers must direct clients towards the long term

Objectivity and fee-based services are the key

The credit crisis has permanently changed our view according to Pierre Bes, managing director at Barclays Capital London. “More than a year after the turmoil, the disasters have completely changed the way we look at investments. The focus is on liquidity, volatility, and credit related issues. How do you give clients confidence to invest in this market at this time? Private banks and their clients are tempted to maintain overly high levels of liquidity and absorb the performance hit. The value of credit ratings has declined and the significance of issuers is paramount. Diversifying asset classes has never been more important.”

TAS 2008 – the finalists

It’s really not fair, is it? Summer is almost over and what have we seen of it? We all know people who wished for hotter summers. Well, now they’ve got what they wanted, I hope they’re happy that instead of the climate of the Riviera, we got south east Asia.

Ruth Emery

Cashing in the chips

As equities falls from the crest of the wave on which it has ridden for the past few years, investors are turning to the money markets

Anna Sofat

DB x-trackers Sterling Money Market ETF

REVIEWER: Anna Sofat - director, Addidi Wealth

Lisanne Mealing

Henderson Cash Fund

REVIEWER: Lisanne Mealing - managing director, mdm Associates

Dane Halling

Schroders Offshore Cash Fund

Reviewer: Dane Halling - director, Arcturus Investments

Pádraig Floyd

Sink or swim? Wraps are not plain sailing

For providers willing to commit, the wrap market’s evolution could result in financial success. But many obstacles lie in wait for the unwary or careless, says Pádraig Floyd

Mark Polson

Harvesting the potential of a growing market

Everyone seems to be debating the worth of wrap platforms, but is the industry working as a unit to ensure this burgeoning market becomes a success, asks Mark Polson

Jan Regnart

Those who embrace change will be the winners in wrap

The predicted future success of wrap has meant many players have been scrambling to get a foothold in the market, often regardless of flaws in the products being launched. But streamlining procedures will eventually result in a positive outlook for the industry, says Jan Regnart

Ruth Emery

Investors who build their houses on (the) rock

Despite its low profile in the past, Gibraltar is shaping up to be a strong contender for high net worth individuals keen to make the most of their money, says Ruth Emery

Zoltan Molnar

Reviews, restructures and a spot of house redecoration

With increased demand for pension scheme consolidation since A-day, client reviews are an everyday occurrence, says Zoltan Molnar

Carol Hill

For richer or

With divorce rates rising and multi-million dollar settlements leaving high-earners quaking, the prudent if less than romantic idea of a prenuptial agreement is becoming far more attractive. So why are UK courts dragging their feet, asks Carol Hill

Georgina Vallance-Webb

THE COHABITATION COCKTAIL: DON’T GET YOUR FINANCIAL FINGERS BURNED

With myriad possible ways in which people can divide their finances when cohabiting, having clear, concise legislation would be hugely beneficial. Unfortunately, the law is far from transparent, admits Georgina Vallance-Webb

Barry Hardisty

Testing times for managers and consumers alike

Using historical data to explain past performance of equities should be an essential tool for investment managers to manage their clients’ expectations, says Barry Hardisty

There are often more questions than answers

Judging which product will best fit a client’s requirements is no easy task when selecting an ETF, and managers should ensure they look at factors other than cost to make the right choice, says Nick Shellard

MacLaverty: will be helping Credit Suisse target clients outside of London

Credit Suisse chases north west and East Anglia markets with two hires

Credit Suisse has snapped up two relationship managers in the continued development of its private banking business in the UK.

Sheepshanks: keen to boost the region as a financial and commercial centre

Coutts scores a winner with appointment of Sheepshanks

Coutts & Co has signed up former Ipswich Town Football Club chairman David Sheepshanks as regional chairman for Norfolk and Suffolk.

UBS Birmingham team purloins octet from PwC

UBS Wealth Management has poached a team of eight from Pricewaterhouse-Coopers (PwC), doubling the size of its Birmingham-based operations.

News in brief
E-mail Updates

Poll

Relationships with discretionary fund managers (DFMs) will become more important with IFAs as we move towards RDR.

  • Absolutely. Can't do it myself, so why not get a specialist to manage my investment process?
  • Yes, I intend to use DFMs when they are suitable for specific clients, but not across the board.
  • Not sure. I have mixed feelings about outsourcing the investment.
  • No, I've had bad experiences in the past and I'm not sure I would trust a DFM with my clients.
  • Over my dead body. You couldn't pay me to use a DFM.
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