Wealth management news covering private banking, family offices, financial advisors, high-net-worth services, and asset allocation trends.
Morgan Stanley reported record third-quarter wealth management revenue of $9.1 billion, driven by IPO activity and advisory fees. Net new assets reached $232 billion, with significant flows from IPOs and corporate retirement mandates, pushing total client assets to $10.5 trillion.
Tim Cestnick argues that Canadian investors should optimize year-end tax planning by holding interest-bearing assets in registered accounts like RRSPs and TFSAs. He contends that utilizing First Home Savings Accounts (FHSAs) offers significant tax advantages for eligible first-time homebuyers, potentially rolling unused funds into RRSPs if homeownership goals are not met.
Yahoo Finance examines FactSet Research Systems' recent partnerships with Scotia Wealth Management and SUBSCRIBE, alongside share buybacks, as reinforcement of its wealth management strategy. The article contends that while these moves deepen client integration, they do not materially alter the core investment thesis centered on AI-enabled efficiency and execution risks amid cost pressures.
The Independent reports that only 37 percent of Brits have written a will, warning that dying intestate risks assets going to the Crown or incorrect heirs. It outlines specific inheritance rules for England and Wales, explaining how spousal benefits and inheritance tax allowances apply differently depending on whether the deceased had children or parents.
This sponsored piece illustrates how a single retiree with a $2 million IRA crosses Medicare's income surcharge threshold due to required minimum distributions. It recommends Roth conversions and Qualified Charitable Distributions as strategies wealthy Americans use to manage Modified Adjusted Gross Income and avoid higher Medicare premiums.
MarketWatch presents a reader dilemma regarding retirement feasibility despite holding $4 million in assets. The article explores tensions between financial security concerns like healthcare and inflation versus lifestyle desires, such as an expensive international trip, highlighting common psychological barriers to retiring early among affluent couples.
The article argues that the late Charlie Munger’s advice to aggressively save the first $100,000 remains relevant, noting its inflation-adjusted value is now approximately $200,000. It contends that achieving this initial milestone allows investors to ease their financial efforts as compound interest takes over.
The article profiles Ryan Bushell, CEO of New Haven Asset Management in Toronto, detailing his investment philosophy shaped by early mentorship. It highlights his focus on client priorities, his career transition in his thirties, and his strategic avoidance of technology stocks.
MarketWatch columnist advises adult children navigating conflicts between their elderly parents and a long-term financial adviser characterized by poor communication and questionable advice. The piece suggests strategies for family members to intervene while respecting the parents' desire to maintain the existing professional relationship.
Emir of Kano Muhammadu Sanusi II unveiled the UTLAM Halal Fund, offering Shari'ah-compliant investment opportunities managed by UTL Trust Management Services. He urged Nigerians to diversify portfolios beyond savings accounts into ethical investments while commissioning a new Kano office for trust and will services.