Wealth management news covering private banking, family offices, financial advisors, high-net-worth services, and asset allocation trends.
The Association of Mutual Funds in India (AMFI) streamlined the process for transferring mutual fund units and proceeds after a unit holder's death, effective immediately. Asset management companies will rely on latest address details and process transfers despite minor discrepancies, with a 15-day objection window.
M&A deals for registered investment advisors hit a second-quarter record, according to DeVoe & Co. Most active acquirers report that valuations for RIAs looking to sell have plateaued or will decline, with 18% predicting a drop in sales prices.
BNP Paribas reports that wealthy European clients are increasingly establishing family offices in Hong Kong to capitalize on growing opportunities in the region. The city is seen as a key connector for two-way capital flow between Europe and mainland China, particularly for due diligence and deals in Asian tech start-ups.
This commentary argues that Jason Wenk's Altruist is poised to disrupt asset management by offering a modern custodian for independent financial advisors. It suggests that the company's approach, combined with AI, could reshape the RIA landscape, though the author discloses a personal investment in Altruist.
This commentary argues that teachers frequently become millionaires through disciplined saving and long-term investing, not high salaries. It contends that financial success depends more on behavior than income, citing a survey showing most millionaires avoided debt and invested consistently.
This commentary argues that a $1 million retirement nest egg yields far less spending power than expected due to taxes and healthcare costs. It contends that traditional IRA withdrawals trigger taxes on Social Security benefits, reducing real annual spending to about $28,000, and suggests strategies like Roth conversions to mitigate the tax burden.
This commentary argues that retirees with surplus 401(k) savings should consider investing for their children's future. It suggests strategies for allocating excess retirement funds to benefit the next generation, focusing on long-term growth and tax-efficient transfers.
This commentary argues that Singapore banks like DBS and OCBC are aggressively hiring relationship managers to capture Asia's growing generational wealth, even as they integrate AI tools. It suggests that the wealth management boom is creating jobs despite automation, highlighting a strategic push to serve wealthy clients in the region.
This commentary argues that large registered investment advisers (RIAs) like Mercer Advisors are increasingly creating their own proprietary private markets fund-of-funds vehicles, bypassing intermediary platforms. It contends that scale enables RIAs to source, underwrite, and manage institutional-grade private equity, venture, and credit exposure in-house, reducing fees and improving due diligence for ultra-high-net-worth clients.
This commentary analyzes a couple's retirement plan, arguing that their mortgage debt and rental property cash flow issues could jeopardize their goal of early retirement. The author suggests prioritizing mortgage payoff over additional savings, weighing the after-tax cost of debt against potential investment returns.