Archive for February, 2015

RBC Profit Boosted by Personal, Commercial Banking; Wealth Lags


TORONTO, Feb 25 (Reuters) – Royal Bank of Canada, the country’s top lender, posted a better-than-expected quarterly profit on Wednesday, driven by significant gains in its personal and commercial banking and capital markets businesses.

The bank, which also boosted its dividend payout, said it was confident that its diversified operations, and risk and cost management would help it navigate the macroeconomic headwinds it is facing in Canada.

The results could improve investor sentiment towards Canadian banks, which took a hit after Bank of Montreal , Canada’s fourth-largest lender, reported weaker-than-expected results on Tuesday.

“Royal posted exceptionally strong results today, which should be well rewarded,” said Barclays Capital analyst John Aiken, noting that the biggest positive surprise from the bank was the strong performance from the trading side of its capital markets business.

Net income rose to C$2.46 billion ($1.98 billion) or C$1.65 per share, in the first quarter ended Jan. 31 from C$2.09 billion, or C$1.38 per share, a year earlier.

Excluding one-time items related to the sale of certain assets and restructuring charges the bank posted earnings of C$1.65 a share. The bank said its cash diluted earnings per share were C$1.67.

Analysts, on average, had expected earnings of C$1.58 a share, according to Thomson Reuters I/B/E/S.

RBC said on Wednesday personal and commercial banking net income jumped 17 percent to C$1.26 billion, while net income at the capital markets business rose 18 percent to C$594 million.

Wealth management net income fell 2 percent to C$230 million, as higher earnings were more than offset by additional restructuring costs related to its U.S. and international wealth management businesses.

RBC said it had set aside C$270 million for credit losses, 8 percent less than a year earlier.

The bank also raised its quarterly dividend payout by 2 Canadian cents to 77 Canadian cents a share.

($1 = C$1.2434) (Reporting by Euan Rocha and Jeffrey Hodgson in Toronto and Sayantani Ghosh in Bangalore; Editing by Savio D’Souza and W Simon)

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Wednesday, February 25th, 2015 EN No Comments

Fidelity to Merge Custody and Clearing Units


Fidelity Institutional will combine its custody and clearing units and launch a new technology unit to be lead by Michael Durbin, current president of the firm’s RIA custody business, the firm announced Wednesday.

The firm has been slowly combining core functions of its custody and clearing businesses over the last five years, including the client experience team, the product group and the platform technology team. The firm also reorganized client segments, with banks and broker/dealers under National Financial, and RIAs, professional asset managers, strategic acquirers and retirement advisors and recordkeepers under Fidelity Institutional Wealth Services.

The move to combine the units reflects the convergence of business models in the financial advice industry, Fidelity said. The combined businesses will be called Fidelity Clearing and Custody, which will be lead by Sanjiv Mirchandani, the current president of National Financial, the clearing business.

Durbin will spearhead Fidelity Wealth Technologies, the new unit launched to develop digital technology and speed innovation across the firm’s business units.

“Our clients’ technology needs across the enterprise and the broader technology needs of the financial services industry are limitless, so having a dedicated organization to grow, develop and rapidly deliver technology solutions can help drive our collective success,” said Michael Wilens, president of Fidelity Enterprise Services, in a statement.

In early February, Fidelity surprised the industry by purchasing eMoney Advisor, the widely-used wealth planning software. Fidelity was building what it calls its “next generation” technology platform and realized eMoney already did a lot of what they were looking to create, says Durbin. Those areas included better integrations with other tools, more ways to collaborate between advisors and clients, and data aggregation. eMoney will play a critical role in building out that platform.

When the transaction closes, Edmond Walters, founder and CEO of eMoney, will report to Durbin, while maintaining his role leading eMoney. 

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Wednesday, February 25th, 2015 EN No Comments

Stifel Financial To Buy Privately-held Brokerage Firm Sterne Agee

( – Financial services holding company Stifel Financial Corp. ( SF ) agreed Tuesday to acquire privately-held brokerage firm Sterne Agee Group, Inc. for $150 million in a cash and stock deal that will boost its wealth-management segment as it continues to build its broker business.

“We have identified a great firm in Sterne Agee to bolster our Global Wealth Management group with the addition of more than 700 financial advisors and independent representatives increasing advisor professionals by 35%,” Stifel Chairman and CEO Ronald Kruszewski said in a statement.

The consideration will consist of a combination of Stifel common stock, valued at $51.55 per share, and cash. Sterne shareholder can elect for a minimum of 1.42 million shares of Stifel stock and a maximum of 1.62 million shares, while the cash consideration ranging between about $77 million and $66 million.

The deal, primarily subject to approval by Sterne Agee shareholders, is expected to close in the late spring. The deal has the unanimous approval of the boards of directors of both companies.

The deal will boost Stifel’s global wealth management segment with the addition of about 730 financial advisors and independent representatives nationwide managing over $20 billion in client assets, and complements Stifel’s fixed income platform.

“Sterne Agee’s fixed income platform is highly complementary to our existing products and services, and together will catapult this business to a new level, continuing the momentum we established with the addition of Knight’s fixed income sales and trading business,” Kruszewski added.

Agee Group is one of the oldest and largest privately owned financial services firms in the U.S. Stifel said the acquired businesses are expected to generate gross annual revenues of about $300 to $325 million and be accretive to shareholder value when fully integrated.

In Tuesday’s regular trading session, SF is currently trading at $55.21, up $3.12 or 5.99% on a volume of 0.41 million shares after hitting a 52-week high of $55.34.

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Tuesday, February 24th, 2015 EN No Comments

Xignite Works with MSCI to Target Growing Fintech Market with Benchmark Data

SAN MATEO, Calif.–(Business Wire)–Xignite,
the leading provider of market
data from the cloud
, announced today that it has become a
distributor of the MSCI
Global Equity Indexes
via its cloud API platform.

Through this distribution agreement, Xignite
and MSCI
joint clients will be able to access MSCI’s Global Equity Indexes
levels, price and total return data covering over 75 countries in the
Developed, Emerging, and Frontier Markets via the Xignite
. These APIs provide the easiest and fastest way to consume and
integrate benchmark data into other systems, such as wealth management,
portfolio planning, portfolio accounting, performance reporting,
performance attribution analysis and others. Xignite
are specifically designed to speed development and integration
inside new generation web and mobile platforms—allowing firms to focus
on providing a unique user and investor experience.

“The digital wealth management space is a fast growing segment in the
investment management industry,” said Alain Dubois, Managing Director
and Head of Index New Product Development and Data Distribution at MSCI.
“Given Xignite’s established presence in the space, we are excited to
make our data available to this new audience on its data distribution

“MSCI has a strong brand, platinum-quality data and a proven track
record in serving the investment industry. It is only natural that our
fast-growing client base is demanding access to its data to power their
next-generation tools and platforms,” said Stephane Dubois, CEO and
founder of Xignite. “Many large financial institutions beyond the
digital wealth management space are also rebuilding their aging legacy
technology platforms, following in the footsteps of the fintech
industry. We are beginning to see established firms consuming data from
the cloud instead of using the rigid, antiquated and expensive
infrastructures they can no longer afford to support.”

About Xignite

is the leading provider of market
data cloud
solutions. Xignite
makes sourcing and integrating real-time
and reference
market data
into apps and devices easy and more cost-effective than
alternative data feeds. The Silicon Valley-based company is helping fuel
fintech innovation by powering web sites and apps for more than 1000
financial services, media, software and corporate clients, including
fintech innovators Wealthfront,
, Motif
, Robinhood,
and Yodlee.
The company’s platform also powers private data distribution solutions
for exchanges, market data vendors and financial institutions, including NASDAQ
Financial Information
and BMO.
For more information, visit
or follow on Twitter @xignite.

Media Contacts
Kerry Langstaff, +1 650-242-4466
– office
Meza, +1 212-804-5330
Gogel, +1 646-395-6300


Tuesday, February 24th, 2015 EN No Comments

Getting the Right Tools for Financial Planning, Asset Management

When you have a job to do, the right tools can make a big difference. This is the same in the financial services industry. We have a job to do and having the right tools makes our job much easier. In this post, I’ll provide an update on the tools I have recently added and discuss how they are helping me do what needs to be done. 

Financial Planning

I have to confess, it took a long time for me to switch from the financial planning tool I had developed to an off-the-shelf product.  Years ago, I couldn’t find much which was compelling enough for me to change. I found my planning tool was much better in most respects.

Today, all that has changed.

Since I’ve added eMoney, I can already see how much easier it will be to conduct business. This system is integrated with my custodian, TradePMR, which means I can easily import my clients’ account data into the system. That’s where I stand at the moment.

After I have imported all account data, I will establish a link between my clients outside assets and liabilities (i.e. mortgage, bank accounts, etc.) and eMoney. Then, I will enter additional information such as date of birth, personal goals, income sources and amounts, etc. and plan updates will be much easier. I’m really looking forward to the future with eMoney. 

Asset Management

My final decision is to keep Morningstar Advisor Workstation and supplement it with YCharts. Many of you are already aware of Workstation so I’ll focus on YCharts. YCharts is an amazing tool with some very interesting functionality.

In fact, if you are a ‘quant’ at heart, you’ll love this product. There are more than 4,000 data points for individual stocks, and over 200 each for mutual funds and ETFs.

What I especially like is the ease in which you can create a chart and compare it to other data by placing the other data in a separate chart or in the same chart as the initial data. Then, with a click of a button, you can save the image as a picture file and add text and other items in Microsoft PowerPoint. It’s really great for presentations. 


As I step into the 21st century (that’s how it feels, anyway), I am finding these new tools will save me time and effort. Rather than recreate the wheel, I now prefer to let others do that and I’ll just drive. 

Until next time, thanks for reading!


Tuesday, February 24th, 2015 EN No Comments

Number of High Net Worth Individuals in Poland to Rise to 33017 by 2018 – Virtual include new market research report”Poland Wealth Report 2014″ to its huge collection of research reports.

Albany, NewYork (PRWEB) February 22, 2015

A new report studying the population of high net worth individuals (HNWIs) and the market for wealth management in Poland has been recently added to the extensive research report database of The report is titled “Poland Wealth Report 2014”.The report states that Poland had 28,405 HNWIs in the year 2013. These HNWIs held nearly US$127.7 billion in total, translating to an average of US$4.5 million per HNWI. Following a decline by nearly 4.9% in 2012, the number of HNWIs increased by 2.0% in 2013.

Complete Report With TOC @

The report states that the wealth and volume of HNWIs in Poland will continue to increase during the period 2014-2018, the report’s forecast period. The wealth of HNWIs is anticipated to increase by an excellent 30.5%, and reach an estimated value of US$174.2 billion by 2018. The number of HNWIs in Poland is expected to increase by 12.9% during the report’s forecast period and reach 33,017 by 2018.

The report adds that HNWIs in Poland had nearly 27.8% of their wealth, worth approximately US$35.5 billion, invested outside of Poland in 2013, in line with the global HNWI foreign investment average of 20-30%.

The report presents a detailed study of asset allocations and performance of HNWIs and ultra-HNWIs in Poland. An evaluation of the local market for wealth management is also presented by the study.

The report presents a detailed analysis of Polish HNWI investments across many verticals such as asset classes, foreign investments, and alternative breakdown of the assets as liquid versus investable assets.

Analysis of the competitive landscape of Poland’s wealth management market includes a detailed study of domestic banks, wealth managers, foreign private banks, financial advisors, and family offices. The Polish wealth management market is also studied according to the developments in the sectors of private banking, clientele model, and maturity. Behavioral mapping of private banking and wealth management in the country is also presented in the report.

The report is an attempt to develop a comprehensive database of wealth, volume, and investment trends of Polish HNWIs during the review period based on a variety of criteria such as job titles, industries where these individuals work, cities to which the individuals belong, and the performance of those industries, cities, and other factors such as population densities of cities affecting the volume trend of HNWIs in Poland.

The report also presents a detailed analysis of per capita net worth, wealth, and volume trends of HNWIs across wealth bands such as UHNWIs (billionaires, centimillionaires, affluent millionaires), and core HNWIs (mid-tier millionaires, lower-tier millionaires).The report also presents analysis of factors such as key drivers of the Polish HNWIs wealth management market such as real GDP growth, per capita GDP, inflation rate, tax regulations, commodity index, foreign direct investments, domestic capitalization of market, interest rate, government debts, stock market performance, and balance of payments.

All Latest Market Research Report @

A detailed insight about the fastest growing cities for HNWIs during the report’s review period, number of wealth managers present across various cities, city-wise rating of the potential and saturation of wealth managers, and development, challenges, and opportunities for private banking and wealth management sectors in the country is also included.

About ResearchMoz:

ResearchMoz is the world’s fastest growing collection of market research reports worldwide. Our database is composed of current market studies from over 100 featured publishers worldwide. Our market research databases integrate statistics with analysis from global, regional, country and company perspectives. ResearchMoz’s service portfolio also includes value-added services such as market research customization, competitive landscaping, and in-depth surveys, delivered by a team of experienced Research Coordinators.

For More Information Kindly Contact:

Email: sales(at)researchmoz(dot)us


Sunday, February 22nd, 2015 EN No Comments

Williams Asset Management Names Nicholas Ibello as Wealth Manager

Columbia, MD, February 22, 2015 –(– Today, Williams Asset Management proudly announces that Nicholas A. Ibello has been named Wealth Manager, Associate Vice President. Mr. Ibello brings 5 years of industry experience to Williams Asset Management.

“In this new role, Mr. Ibello will bring additional expertise and experience as Williams Asset Management continues to grow in the marketplace,” said Gary Williams, Founder and President.

Born and raised in Baltimore, MD, Nick became attracted to the financial services industry at an early age. In a high school finance class, students participated in a stock market “game;” creating investment accounts, researching stocks, and then investing with play money. Nick performed all his due diligence and loved playing the game, but was stunned when he came in last. After asking the student that came in first place how he was able to do it – the response was, “My dad is a financial advisor.”

Knowing he had a lot to learn, this experience compelled Nick to study hard and learn all he could about the industry; and in 2011 he graduated from St. Mary’s College of MD with a B.A. in Economics and a concentration in Finance. He excelled there both as an athlete (soccer and tennis) as well as a student, becoming a member of the National College-Athlete Honor Society, the Economics Honor Society, and a Senior St. Mary’s Scholar. The hard work came naturally to him, since he had worked in the family’s upholstery business for years.

Realizing he was more interested in finance then upholstery (and with his father’s blessing), Nick worked three years at T. Rowe Price, both in accounting as well as their financial advisor segment. Passionate about helping people realize their financial goals, and looking for a firm that matched his philosophy and investment process, Nick decided to join Williams Asset Management as a full time Wealth Manager. Always looking to learn and gain expertise, Nick has currently completed all the required course work for the CERTIFIED FINANCIAL PLANNER™ professional certification, and will sit for the exam in March 2015. Nick also holds the FINRA Series 7, 63, and 66 designations, as well as his insurance license; which makes him fully licensed to sell securities and insurance in the state of MD.

Nick grew up with three sisters in a very tight knit Italian family, and is especially close to his twin sister, Paige. As the only boy, he grew up looking after his sisters, and in turn, they looked out for him as well. Growing up with such a close family, Nick has come to understand the value in always having someone there to look after your best interests; and now, as a professional, Nick carry’s forward that same approach to his clients through his work.

He loves meeting new people, but also maintains close ties with his friends from elementary, middle and high schools, as well as college friends and former colleagues. The people in Nick’s life matter greatly to him, and there’s no effort too great for the people he cares about. “It’s all about the relationships,” he says simply, and clients who have worked with Nick happily agree.

Ibello adds “With the support of Gary Williams and Williams Asset Management, I am confident the passion and knowledge I have for the financial planning process will help add value to individuals and families that are looking to take their financial affairs to the next level.”

About Williams Asset Management
Founded in 1994, Williams Asset Management is an award-winning, privately-owned investment advisory services and wealth management firm, located at 8850 Columbia 100 Parkway, Suite 204 in Columbia, Maryland. They provide independent and objective financial advice to a wide array of affluent individuals and families, and as fiduciaries, the firm prides itself on crafting unique strategies that have their client’s interests at heart. Their areas of expertise include investment planning, retirement planning, tax planning, business planning, estate planning, and risk management planning.

For more information, please call (410)740-0220 or visit Securities and Advisory Services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Advisor.


Sunday, February 22nd, 2015 EN No Comments

Number of High Net Worth Individuals in Peru to Rise by 19.8% by 2018 – Virtual announces that a new market research report is available in its catalogue: Number of High Net Worth Individuals in Peru to Rise by 19.8% by 2018

Albany, NewYork (PRWEB) February 22, 2015

The report focuses on ultra HNWI performance data collected during the review period, from the start of 2008 (the peak of the global financial crisis) to the end of 2013, enabling the reader to determine how well these individuals performed during this period.

Full report With TOC :

The report is a detailed review of the performance and asset allocations of Peruvian ultra HNWIs. It highlights the cities with the highest volume of such individuals and also includes a detailed study of the Peruvian wealth management industry across important market verticals.

The report states that 276 individuals in Peru fell in the wealth band of ultra HNWIs in 2013. These individuals had an average wealth of nearly US$182.6 million in 2013. The enormous wealth possessed by these individuals made them a prime target for Peru’s wealth management sector. Of this total number of UHNWIs in Peru, 9 individuals were billionaires, 108 were centimillionaires, and 159 were millionaires.

The total number of Peruvian UHNWIs formed a nearly 1.2% share of the Peruvian population of HNWIs in 2013, significantly greater than the global average of nearly 0.7%. The report’s review observed an excellent 87.8% rise in the number of UHNWIs, increasing from 147 in 2009 to 276 in 2013.

The report states that the performance of various wealth bands in the UHNWIs category remained different – the number of affluent millionaires increased by 84.9% while the number of centimillionaires increased by 77.0% during the review period of the report.

The report analyses the wealth, per capita net worth, and volume of the three UHNWI wealth-bands – billionaires, centimillionaires, and affluent millionaires. A detailed analysis of Peruvian UHNWI investments is conducted based upon key trends in foreign investments, numerous asset classes, and investable versus liquid assets.

The report gives an in-depth account of the competitive landscape of Peru’s wealth management sector based on criteria such as wealth managers, financial advisors, foreign private banks, and family offices. The report studies important developments in Peru’s private banking industry and its relation with the country’s UHNWI wealth management sector. The report also presents a detailed behavioral mapping of wealth management businesses and private banks in Peru.

All Latest Market Research Report :

The report assesses the effect of numerous factors affecting the performance of Peruvian UHNWIs, including per capita GDP, real GDP growth, domestic capitalization of market, commodity index, inflation rate, foreign direct investments (FDI), interest rate, balance of payments, performance of the stock market, and government debts.

About ResearchMoz:

ResearchMoz is the world’s fastest growing collection of market research reports worldwide. Our database is composed of current market studies from over 100 featured publishers worldwide. Our market research databases integrate statistics with analysis from global, regional, country and company perspectives. ResearchMoz’s service portfolio also includes value-added services such as market research customization, competitive landscaping, and in-depth surveys, delivered by a team of experienced Research Coordinators.

For More Information Kindly Contact:

Email: sales(at)researchmoz(dot)us

For the original version on PRWeb visit:


Sunday, February 22nd, 2015 EN No Comments

What’s new on the business scene for Feb. 21


Wealth planner joins local firm — Marshall Sterling Wealth Advisors, Inc., Poughkeepsie, welcomes Susan Miccio to the firm as a wealth planner.

A veteran of the wealth management and financial planning industry, Miccio previously served as a wealth management associate with an industry-leading firm. As a certified divorce financial analyst , she specializes in the financial planning and wealth management strategies for those individuals and families who have gone through a divorce.

Marshall Sterling wealth advisors works with families, individuals, trusts, businesses and not-for-profit organizations to create tailored investment solutions.

Celebrating 150 years of service, Marshall Sterling, Inc. is ranked 31st among more than 40,000 privately-held insurance agencies in the United States. The employee-owned company has more than 400 insurance specialists in 27 branch offices in New York, California, Michigan, Florida, Virginia and the U.S. Virgin Islands.


Hospital education center receives five-year accreditation — The MidHudson Regional Early Education Center, part of MidHudson Regional Hospital of Westchester Medical Center, Poughkeepsie, has been awarded the National Association for the Education of Young Children Accreditation, a five-year accreditation marking the center’s excellence in meeting 10 criteria, including curriculum, teaching, child progress and leadership.

“Earning this certificate gives us great pride,” said Margaret Slomin, director of the center. “At the Early Education Center, we’ve been empowering children to learn and grow since 1988. It is a testament to the quality of our highly trained teachers, staff and site managers that our programs have received this distinction.”

Paul Hochenberg, executive director, MidHudson Regional Hospital, agrees. “The approach of our Early Education Center ensures that the children of this community are respected and nurtured in an enriching, supportive environment, and this accreditation signifies our success — and our ongoing commitment — in delivering on that promise,” he said.

The center employs age-appropriate developmental play to facilitate an environment in which children are exposed to a wide variety of experiences aimed at educating and building self-confidence.

Send listings to Fax to 845-437-4921 or mail to P.O. Box 1231, Poughkeepsie, NY 12601


Saturday, February 21st, 2015 EN No Comments

UHNWI volume, wealth and allocation forecasts to 2018 in the US$ shared in …

UHNWI volume, wealth and allocation forecasts to 2018 in the US$ shared in new research report


WhaTech Channel: Industrial Market Research Reports

Published on Saturday, 21 February 2015 11:33

Submitted by Pawan Kumar WhaTech Agency

News from:
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• This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in the US. • The report focuses on HNWI performance between the end of 2008 (the peak before the global financial crisis) and the end of 2013. This enables us to determine how well the country’s UHNWIs have performed through the crisis.

• This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in the US.

• The report focuses on HNWI performance between the end of 2008 (the peak before the global financial crisis) and the end of 2013. This enables us to determine how well the country’s UHNWIs have performed through the crisis.

Executive Summary :

This report reviews the performance and asset allocations of Ultra HNWIs in the US, and highlights top-performing cities. It also includes an evaluation of the local wealth management industry.

Scope :

• UHNWI volume, wealth and allocation trends from 2009 to 2013

• UHNWI volume, wealth and allocation forecasts to 2018

• UHNWI asset allocations across 13 asset classes

• Number of UHNWIs in each state and all major cities

• Fastest growing cities and states for UHNWIs (2009-2013)

• Number of wealth managers in each city

• City wise ratings of wealth management saturation and potential

• Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in the US

• Size of the US wealth management industry

• Largest domestic private banks by AuM

• Detailed wealth management and family office information

• Insights into the drivers of HNWI wealth

Access full details at:

Key Highlights :

• There were 39,378 UHNWIs in the US in 2013, with an average per capita wealth of US$135.2 million, making them a prime target group for wealth sector professionals. Of this total, there were 500 billionaires, 11,454 centimillionaires and 27,424 affluent millionaires.

• UHNWIs accounted for 0.8% of the total HNWI population in 2013, higher than the global average of 0.7%. The number of US UHNWIs increased by 25.6% during the review period, from 31,346 in 2009 to 39,378 in 2013.

• There was a range of performance between the different UHNWI wealth bands. While the number of billionaires rose by 13.9%, the number of centimillionaires and affluent millionaires rose by 25.3% and 26.0% respectively.

• WealthInsight expects the number of UHNWIs to increase by 12.2% to reach 45,543 in 2018. This will include 612 billionaires, 13,210 centimillionaires and 31,721 affluent millionaires.

Table of Contents:

1 Introduction

2 Executive Summary

3 Wealth Sector Fundamentals

4 Findings from the WealthInsight HNWI Database

5 Analysis of US HNWI Investments

6 Competitive Landscape of the Wealth Sector

7 Appendix

8 About WealthInsight

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Saturday, February 21st, 2015 EN No Comments