Archive for February, 2014

Research and Markets: Switzerland 2014 Wealth Book

Research and Markets (
has announced the addition of the “Switzerland
2014 Wealth Book”
report to their offering.

This report is the result of extensive research covering the high net
worth individual (HNWI) population and wealth management market in
Switzerland. It reviews the performance and asset allocations of HNWIs
and Ultra HNWIs in Switzerland. It also includes an evaluation of the
local wealth management market.


– Independent market sizing of Swiss HNWIs across five wealth bands

– HNWI volume, wealth and allocation trends from 2009 to 2013

– HNWI volume, wealth and allocation forecasts to 2018

– HNWI and UHNWI asset allocations across 13 asset classes

– Geographical breakdown of all foreign assets

– Alternative breakdown of liquid vs investable assets

– Numbers of UHNWIs in major cities

– The number of wealth managers in each city

– Ratings of wealth management saturation and potential by city

– The size of the Switzerland wealth management industry

– Largest domestic private banks by AuM

– Detailed wealth management and family office information

– Insights into the drivers of HNWI wealth

– Details of developments, challenges and opportunities in the wealth
management and private banking sector in Switzerland

Key Highlights

– There were approximately 360,917 HNWIs in Switzerland in 2013. These
HNWIs held US$1.6 trillion in wealth. In 2013, the wealth per adult in
the country was approximately US$512,600.

– In 2013, Swiss HNWI numbers rose by 10.6%, following the 2012 increase
of 9.5%.

– Growth in HNWI wealth and volumes are expected to improve over the
forecast period. The total number of Swiss HNWIs is forecast to grow by
24% to reach 494,485 in 2018. HNWI wealth will see a significant
percentage increase, growing by 18% to reach US$2.2 trillion by 2018.

– At the end of 2013, Swiss HNWIs held 40.8% (US$668 billion) of their
wealth outside their home country, significantly higher than the
worldwide average of 20-30%.

Key Topics Covered

1 Introduction

2 Executive Summary

3 Wealth Sector Fundamentals

4 Findings from the WealthInsight HNWI Database

5 Analysis of Swiss HNWI Investments

6 Competitive Landscape of the Wealth Sector

7 Appendix

8 About Us

Companies Mentioned

– Credit Suisse Private Banking

– HSBC Private Bank

– Julius Baer Gruppe

– Lombard Odier

– Pictet Cie

– UBS Wealth Management

For more information visit

About Research and Markets

Research and Markets is the world’s leading source for international
market research reports and market data. We provide you with the latest
data on international and regional markets, key industries, the top
companies, new products and the latest trends.


Friday, February 28th, 2014 EN No Comments

Investec Wealth & Investment (Channel Islands) opens London Stock …

Posted: 28/02/2014

Investec Wealth  Investment (Channel Islands) opens London Stock Exchange’s UK marketsInvestec Wealth Investment (Channel Islands) Limited (“IWI (CI)”) rang the bell yesterday (Thursday 27th February) to open the London Stock Exchange’s UK markets.

IWI (CI) is the newly set up investment management company in Guernsey, which is wholly owned by Investec Wealth Investment Limited (“IWIW) in the UK. IWI (CI) director and head of office Shaun Lacey represented the company at the traditional ceremony, which sees a new company open the world’s most international market.

‘It was an absolute honour to be involved in such an historic and prestigious event to mark the launch of our new wealth management business in Guernsey, which opened in November,’ he said.

‘We have had a very positive start since our launch in November last year and have attracted a lot of new wealth management business, as well as expanding our team at a time when other financial institutions appear to be downsizing.’

Market Open Ceremonies take place each day at 8am in London Stock Exchange Headquarters in Paternoster Square. Hosted by a senior executive from London Stock Exchange Group, the ceremony offers companies joining London Stock Exchange’s markets the opportunity to mark their success on the day of their admission.

Historically a bell or electronic bell marked the beginning of the trading day on London Stock Exchange’s trading floor. In 1986 however, the deregulation of the market and dissolution of the trading floor saw an end to this long-standing tradition. In 2011, London Stock Exchange launched a new installation that would revive this celebrated tradition in London. New companies, issuers and member firms have joined charities and leading public figures in participating in this new event, marking the start of trading on the world’s most international market.

Over 500 high definition LED screens make up the three-story installation. Market movement and prices are displayed throughout the day with real time data supplied by Proquote and news feeds from CNBC. The bespoke market opening mechanism is launched using an engraved glass tablet, which is given to the individual opening the market as a memento of the day.

IWI and its subsidiaries offers its clients access to a broad spectrum of services including further lending, specialised institutional opportunities and currency hedging facilities through the Investec Group.

‘We manage a wide range of portfolios and they are all tailored to the individual client’s requirements – a truly bespoke service being the cornerstone to our approach. We offer financial expertise with out of the ordinary levels of customer service. This is a key tenet of our investment philosophy,’ said Mr Lacey

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Friday, February 28th, 2014 EN No Comments

Old Mutual Wealth acquires Intrinsic

The acquisition is an important step in the company’s strategy of creating the UK’s leading retail investment business, improving access to wealth management services for customers across the UK.

The transaction brings together Intrinsic’s network of 3,000 independent and restricted advisers with Old Mutual Wealth’s leading investment platform and asset management solutions.

Paul Feeney, CEO of Old Mutual Wealth, said: “Wealth management is not just for the wealthy. Most people need high quality individual advice to help them secure their financial future, to achieve their goals and look after their families.

“We believe passionately in this and want to improve access to wealth management services for people right across the UK.

“With one in ten advisers in the UK being part of Intrinsic we will be ideally positioned to facilitate that.

“Intrinsic is a high quality business with high quality people and this acquisition is a sign of our commitment to the financial advice industry.”

Richard Freeman, CEO of Intrinsic, added: “Ownership by Old Mutual Wealth will bring a host of benefits to our customers and to our business.

“It will deliver a first-class proposition with the investment platform, investment solution and advice relationship fully aligned in a way that provides real value for money.

“In addition, the support of a single, stable shareholder with Old Mutual’s financial strength and global experience in advice and distribution will further strengthen the business and deliver long-term security for our customers.”

The acquisition is subject to regulatory approval.


Friday, February 28th, 2014 EN No Comments

The FCA ‘arrow’ visit: what next for suitability?

The FCA 'arrow' visit: what next for suitability?

Recent Financial Conduct Authority (FCA) visits to firms suggest suitability is the focus of renewed attention.

According to industry insiders, the issue appears to have moved forward, with a bigger focus on stockbrokers. Wealth Manager understands one national wealth manager has had ‘arrow’ (unannounced and targeted) visits by the FCA, looking into files dating back a decade.

A source at the firm explained it had ‘pushed on’ in terms of suitability with a client review 15 months ago, but acknowledged it was having to fact-find in more detail than it ever has.

‘Because we’re an equity stockbroker, our risk profiles must include equities. It seems there is an assumption by the regulator that we’ve pushed people over the last 100 years to have equities when they didn’t need to, [so] from our point of view it’s all about provability,’ the source said.

Technically, however, firms are only required to keep files for six years.

‘It also means we’re covering our backsides going forward. I don’t think it’s going to make the client’s life or the outcomes any better, but it is going to prove what we did was suitable,’ the source added.

As a result, changes have been made to compliance procedures. ‘The firm has gone where they think the bar will be in two years’ time. The regulator is more comfortable with the centralised processes because they can see how things can be controlled.’

The group anticipates another visit from the FCA, while some older wealth managers could see closer supervision.

Michael Lally, director at Thesis Asset Management’s, said centralisation of processes and more in-depth documentation is a ‘particular problem’ for large regional stockbrokers.

‘In most cases each office operates almost as a separate profit centre, with no central discipline but it doesn’t make them the bad boy,’ he said. ‘You’d imagine they would be a soft target [for the FCA]. It’s the clipboard mentality of the regulator.’


Wednesday, February 26th, 2014 EN No Comments

WH Ireland Swings To Profit Amid "Benign Markets"; Finance Boss Departs

LONDON (Alliance News) – WH Ireland Wednesday said it swung to an annual pretax profit, boosted by what Chief Executive Richard Killingbeck described as “more benign markets” for the first time since the financial crisis struck in 2008.

The wealth manager also said it received regulatory approval for its new Isle of Man office, which expands its private wealth management business.

WH Ireland, which has a corporate broking division, said Finance and Operations Director Alan Kershaw has stepped down from the board and will leave the company at the end of February. WH Ireland said Kershaw’s departure was the result of a “mutual agreement” and that it will soon be in a position to appoint a successor.

WH Ireland said it received the necessary regulatory approval from the Isle of Man Financial Supervision Commission to launch its Isle of Man office, which marks an “important strategic expansion” for its private wealth management business. The new office will be led by David Bushe, Gary Colley and Will Corrin, who will report directly to Killingbeck.

WH Ireland swung to a GBP1.7 million pretax profit in the year to November 30, 2013, from a GBP200,000 pretax loss the year before, buoyed by growth in both of its divisions as revenue increased by 18% to GBP29.7 million.

The private wealth management division’s revenue increase to GBP18.0 million from GBP14.4 million, while the corporate broking division reported a 21% increase to GBP8.5 million.

Killingbeck was optimistic on the company’s start to the new financial year.

“The current year has started well and the number of corporate clients that we advise has risen further, which is driving a good pipeline of corporate transactions. Our assets under management and administration have continued to grow, boosted by stronger markets,” he said.

The company increased its final dividend to 1.5 pence from 0.5 pence. It declared no interim dividend in either 2013 or 2012.

WH Ireland shares were Wednesday quoted at 121.00 pence, down 1.50 pence, or about 1.2%.

By Samuel Agini;; @samuelagini

Copyright © 2014 Alliance News Limited. All Rights Reserved.

Alliance News


Wednesday, February 26th, 2014 EN No Comments

Hewins Financial Named Top 30 RIA By Financial Planning

SAN MATEO, Calif., Feb. 26, 2014 /PRNewswire/ — Hewins Financial Advisors, LLC (Hewins), a CPA-based financial advisory firm, has been named as a leading RIA firm by Financial Planning’s “RIA Leaders,” ranking 27th in total assets under management and 26th fastest growing RIA in the January 2014 report. With nearly $3 billion in assets under management, and $856.1 million in growth from 2011 to 2013 (data via Sept. 2013 ADV filings), Hewins ranks as a leading national firm occupying the “upper echelon of a variegated field of more than 19,000 RIAs nationwide,” as stated in the editor’s introduction of the report on Financial Planning.

On top of organic growth and strategic acquisitions, the firm was boosted by the launch of Key Access Services™, an emerging investor service offering for new wealth builders, and Cue Wealth Management Solutions, its turnkey asset management program and a strategic partnering platform for select CPA and RIA firms. 

“We’re excited about our continued growth path.  We believe strongly that our consistency in our investment philosophy and our efficiencies in our business models have propelled us as a firm.  The strengths we’ve developed in the high-net-worth market have enabled us to extend our strategies, resources and capabilities to the emerging investor and business-to-business space. As the RIA industry continues to grow, I think we’ll see more firms start to diversify their revenue streams this way,” says Hewins Financial Chief Strategy Officer Gretchen Halpin.

About Hewins Financial

Hewins Financial Advisors, LLC is a national, CPA-based wealth management and financial advisory firm that has delivered sophisticated, objective advice to high-net-worth individuals and families, small businesses and retirement plans since 1999. Hewins provides clients with sophisticated investment and tax management strategies developed to meet the highest fiduciary standards, with a range of holistic solutions like transition planning, tax and estate coordination, financial planning and investment advisory services.

Financial Planning’s full 2014 rankings are available at The introductory article cited above, with additional criteria for consideration and methods, can be found at Past performance is not an indicator of future performance.  Actual client experiences may materially vary.

SOURCE Hewins Financial Advisors, LLC


Wednesday, February 26th, 2014 EN No Comments

Ignis overhaul sees GEM relaunch and tech shutdown

Ignis overhaul sees GEM relaunch and tech shutdown

Ignis is to relaunch its Emerging Markets Select Value Fund under Barings hire Mark Julio in a restructure that will see the closure of its International Global Government Bond fund and Global Technology fund.

Julio was hired in September 2012 from Barings asset management, where he was part of a team managing £2.6 billion in global emerging markets, to help Ignis expand in that space.

He will take on the €213 million Ignis International Emerging Markets Select Value fund, which will ditch its quant driven, value bias and adopt a stock specific, fundamental approach to global emerging markets. Existing manager James Smith (pictured) will concentrate on the management of the Ignis Global Equity fund.

‘Mark’s appointment and the change of remit will broaden the fund’s appeal and is a significant step in the continued development of Ignis’ global emerging markets equities proposition,’ the company said.

The emerging markets fund’s sterling share class is second quartile over five years to January 31, and also over one year. In three years it is third quartile, losing 18.9% compared with a loss of 12% for the MSCI Emerging Markets index.

The firm has also decided to shut the €10.2 million International Global Government bond and €10.7 million International Global Technology funds, which it said were ‘economically unviable to manage’ because of their small size, and unlikely to see much demand in the future.

Reducing the fund range will provide  ‘greater focus for the business,’ Ignis said.

‘Consistent with our desire to reduce our fund range in order to provide greater focus for the business, we have decided to close or re-launch a number of strategies. These changes will allow the business to focus on the most appropriate products that we believe will be best aligned to the future needs of our clients,’ the company said.

The International Global Government Bond fund is fourth quartile of the Lipper Global bond sector in all time periods to December last year. In three years it has lost 5.4% compared with a 1% rise for the Citigroup World Government Bond IndexManagers Russ Oxley and Stuart Thomson will now focus on the £2.6 billion Ignis Absolute Return Government Bond Fund.

Meanwhile,the Global Technology fund’s sterling share class is fourth quartile in one year to December 2013. It is second quartile since its launch in September 2010, returning 42.8%, compared to a rise of  47% for the MSCI ACWI/IT sector. Manager Geoff Paton will remain a member of the US equities team


Tuesday, February 25th, 2014 EN No Comments

State Street closes outperforming inflation-linked bond fund

State Street closes outperforming inflation-linked bond fund

State Street Global Advisors (SSgA) has shut its Global Inflation Linked Bond Index fund despite its strong performance.

Over the three years to the end of January, the fund returned 15.4% compared with 13% by the Barclays US Treasury Inflation Protected Securities index, alongside an average of 9.4% from its Citywire peer group.

A spokesperson for SSgA told Wealth Manager that the decision had been taken ‘due to the asset size being too small to allow efficient management of fund. It was in the shareholders’ interests that SSgA decided to close it.’ The fund was around £25 million in size before it liquidated this month.

The fund was registered in Ireland, and earlier this year SSgA re-domiciled a seven-strong £1.1 billion range from Ireland to Luxembourg.

SSgA still runs both a £255 million Euro Inflation Linked Bond Index fund and a £10 million Active Global Inflation Linked Bond fund.


Tuesday, February 25th, 2014 EN No Comments

Julius Baer now has 25% of CHF254 billion group assets in Asia

The Asset Update

25 Feb 2014 by Bayani S Cruz


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Tuesday, February 25th, 2014 EN No Comments

Central Financial Services announces awards

Central Financial Services (CFS) held its annual Holiday Awards Banquet January 31, 2014, at The Country Club of Lincoln. This event celebrates CFS associates for excellence in life insurance, annuity and securities markets. The following individuals were honored for their 2013 achievements:

Mike Messersmith (Gothenburg) named Top CFS Associate of the Year and Top Life Leader Award. Tim Walla, CFP, Walla Street Wealth Management, Inc. (Leawood, KS) named Top Securities Associate of the Year. Mark Ricklefs, CFP, CLU, ChFC (Wichita, KS) named CFS Most Valued Associate. Timothy E. Cox, CEO, CFEd and Luella Cox, CFO (Lincoln) received special recognition as CFS Most Valued Associates.

Securities Leader Awards ($200,000+ GDC): Mark Ricklefs, CFP, CLU, ChFC; Curtis Harrington (Omaha); Ken Wells, CEBS, Walla Street Wealth Management, Inc. Securities Leader Awards ($100,000+ GDC): Ken Broman, CFEd (Lincoln); Mark Saferstein (Omaha); Mike Messersmith; Michael Rood Jace Champlin of The Retirement Store (Overland Park, KS); Todd Kelley, CFEd (Lincoln); James O. Davidson, CLU, ChFC (Lincoln) Darcy Yocum of Yocum Associates, LLC (Glenwood, IA). Top Securities Office Award: CFS-Lincoln: Lori Teaford, branch manager-OSJ.

Associates of the Year for outstanding performance: James O. Davidson, CLU, ChFC; Jeff Bryant (Arkansas City, KS); Bruce Kruse, LUTCF (Kearney) Curtis Harrington. New Associate of the Year: Jace Champlin. $100,000 Club: James O. Davidson, CLU, ChFC.

Life Leader Awards: Mel Adema (Sioux City, IA), Thomas E. Cook (Lincoln), Dale Erwin (Dakota Dunes, SD) Denny Danielson (York). Fixed Annuity Leader Awards: Top Award to James O. Davidson, CLU, ChFC; Jeff Bryant; Bruce Kruse, LUTCF; Darcy Yocum Joyce Sherwood, LUTCF (Lincoln).

Special Markets Awards: Top Award to James Leggott (Elwood); Darryl Hunter (Lincoln); Jeff Bryant; Mark Steinberger, LUTCF (Lincoln); Joyce Sherwood, LUTCF Mark Dalen, CFP, The Retirement Store.

Central Financial Services is headquartered in Lincoln, with associates practicing in 13 states nationwide.

Central Financial Services, Walla Street Wealth Management, Inc., The Retirement Store Yocum Associates, LLC, are independent financial services firms offering comprehensive planning services, life insurance and annuities. Securities Investment Advisory Services offered solely through Ameritas Investment Corp. (AIC), member FINRA, SIPC. Central Financial Services, Walla Street Wealth Management, Inc., The Retirement Store Yocum Associates, LLC, are not affiliated with AIC. Additional products and services may be available through Central Financial Services, Walla Street Wealth Management, Inc., The Retirement Store Yocum Associates, LLC, that are not offered by AIC.


Monday, February 24th, 2014 EN No Comments