Archive for July, 2015

Gold News Monitor: In Gold We Trust 2015

As always in June, Incrementum AG (an independent asset management wealth management company based in the Principality of Liechtenstein) published its annual “In Gold We Trust” report.

Last month, the 2015 edition of the In Gold We Trust report was released. What can we learn from this publication?

As always in June, Incrementum AG (an independent asset management wealth management company based in the Principality of Liechtenstein) published its annual “In Gold We Trust” report, the extended version of which can be downloaded here. We know that it was published one month ago; however, it took a while to dig through the 140-page text. Because it offers many interesting insights into the current global economy and the gold market, we provide a short summary for you today.

The main idea of the report is that there is a constant struggle between deflationary and inflationary forces. Since 2011, disinflationary forces have clearly dominated the market (think about the declines in commodity prices). According to the authors, this is why so many market participants have lost faith in gold. However, if the inflation trend reverses, excellent opportunities in inflation-sensitive investments such as gold will emerge. They point out that we now actually witness inflation, not consumer price inflation, which occurs always later, but rather asset price inflation. The authors believe that governments and their central banks will eventually tackle the increasing debt problem with money printing and inflation.

We doubt that inflation is the main driver (especially in the short term) of the price of gold (in 80s and 90s the price of gold was falling despite inflation). We argue that the price of gold reacts more to the faith in the current monetary system, and it is in a sense a reciprocal of the credibility of central banks. The authors agree with that, since they explain the disappointing gold performance in dollar terms last year, by pointing out that “at the moment, it appears as though faith in the omnipotence and infallibility of central banks is at an all-time high”. They also mention other factors behind the weak trend, such as strong disinflationary trends and the associated increase in real interest rates, the Fed’s tapering and declining money supply growth rate, rising opportunity costs due to a rally in stock markets, increase in risk-appetite, and rising expectations of a Fed’s rate hike.

Although the report seems to attach too much importance to the relationships between debt, inflation and gold, and to Asian demand, and it incorrectly predicted China’s official reserves (“we believe it is realistic that China now holds 4,000 to 6,000 tons”), it provides interesting information. For example, the global gold price (gold price not in US dollars, but in the trade-weighted foreign exchange value of the dollar) already entered a new uptrend in the autumn of 2014, gold exhibits clear seasonal trends with the second half of the year being the strongest, and the global gold trading volume amounted to 550,000 tons last year, which is roughly equivalent to 188 times annual mine production (this fact explains why the mine production does not drive the price of gold).

In the context of the FOMC July meeting and the Fed’s possible hike, they point out that although the federal funds rate and gold prices exhibit clear negative correlation, some periods can be observed during which the relationship collapses (indeed, three of the largest gold rallies of the post-1971 era occurred in rising nominal rate environments).

To sum up, the last edition of the In Gold We Trust report is a very lengthy, but interesting publication. Although we recommend skepticism on the authors’ long-term gold price target of $2,300 per ounce within three years (it seems that they have stuck to this target since 2007), they properly define gold as an “antithesis to paper money” and a monetary asset (not as just another commodity), realize gold’s safe-haven and portfolio diversification features, and cite convincing explanations for the relatively weak performance of the price of gold (in U.S. dollar terms) last year.


All essays, research and information found above represent analyses and opinions of Arkadiusz Sieron and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Arkadiusz Sieron and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Sieron is not a Registered Securities Advisor. By reading Arkadiusz Sieron’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Arkadiusz Sieron, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.


Friday, July 31st, 2015 EN No Comments

Avondale’s fast-pace growth centers on Nashville roots

In the first half of the year, Avondale has added more than $500 million in new assets, far outpacing the firm’s 14 percent growth clip in 2014, according to figures from Financial Advisor. Big growth gains have become the standard for Avondale’s wealth management arm, founded in 2009. In 2013, Financial Advisor recognized the firm’s wealth management line for being the fastest growing RIA in the country.

When including brokerage assets, Avondale has nearly $1.8 billion in assets. According to a news release, that makes the Nashville firm the third-largest RIA in Tennessee.

Waymon Tipton, who heads Avondale’s wealth management unit, points to the dynamic growth in Nashville.

“As you look at the number of public and significant private companies in Nashville, that is a target for us,” Tipton said. The growth of these types of businesses, who would put 401(k) investment plans into Avondale’s wealth management arm, is “absolutely helping” the firm’s growth, he said.

Krebs said a “significant portion of [Avondale’s] assets are in Nashville.”

As for what’s ahead, Krebs said Avondale is looking to “capitalize on being one of the better boutiques in the country.” That means further beefing up its services in offices, like Avondale’s newest location in Memphis.

“There’s really an opportunity to distinguish the firm from the big New York banks and like the Merrill Lynches of the world,” Krebs said of Avondale, which also includes equity research and investment banking, both heavily in the health care space. “Our opportunity is to be known for something, and doing that something well.”


Friday, July 31st, 2015 EN No Comments

Charles Stanley completes suitability review

Charles Stanley has completed a suitability review of its processes as part of its ambition to become a leading UK wealth manager by 2020.

The project was led by new chief executive Paul Abberley (pictured), who said at the end of last year the suitability review had helped the firm understand that managing money on a discretionary basis suits clients’ needs more than advice. 

The firm has invested money in upgrading systems and record-keeping to ensure clients investment needs are being met appropriately.

‘The project has been successfully executed and completed on schedule,’ the firm said in an interim update issued today.  

‘Over the course of the past year this was a significant undertaking both for staff and clients alike, but one which we are confident will yield dividends over the longer term.’

The trading update also showed that total client funds rose from £20.1 billion at the end of the first quarter to £20.8 billion.

This figure comprises £12 billion worth of managed funds and £8.8 billion of administered funds, with the former’s assets increasing by 4.3% over the quarter.

Revenues from continuing activities rose by 4.9% to £36.3 million, which excludes money earned from Charles Stanley Securities and Charles Stanley Financial Solutions, which have both been sold.

‘Our strategic intent is to focus on vertically integrated, or holistic wealth management, built around an investment led, bespoke approach to client delivery,’ the firm told the market.  

‘Our ambition is to be a leading UK wealth manager by 2020, however in the shorter-term we are focused on building the operating margin to at least 15% in 2018 and then further beyond that.’


Friday, July 31st, 2015 EN No Comments

Taking a different approach

Taking a different approach

Category: Asia, China, Hong Kong, Singapore, Global, Europe, U.S.A.
By Derek Au

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Asian family offices increasingly probe alternative assets seeking higher yields

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Friday, July 31st, 2015 EN No Comments

Cross cultural convergence

Cross cultural convergence

Category: Asia, China, Global
By Derek Au

Asian family offices are now working with their Western counterparts in exploiting regional demand

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Asia-Pacific as a region continues to see extraordinary growth of both its high-net-worth population and the wealth they are accumulating. Both are being driven by the region’s ongoing vigorous economic momentum. And in China, where the government has eagerly nurtured start-ups as a way to fuel the flagging economy, those shrewd entrepreneurs who made the right bet could confidently expect their core businesses to mushroom. This, in time, has become the foundation of the now significant numbers of newly-rich in the country.

More broadly, however, this development in China has had a direct influence on Asia’s aggregate population of wealthy people. According to the World Wealth Report 2015 released by Capgemini and RBC Wealth Management, Asia Pacific now leads the global growth rate in terms of both the number and actual wealth of its high-net-worth individuals (HNWIs), which are defined as those having investable assets of at least $1 million; their number expanded by 8.5% last year, while their collective net worth did even better, growing by 11.4%. In value this amounted to $15.8 trillion. Assuming this continues, they will assume pride of place relative to their global peers by the end of this year, the report predicts. Moreover, Asia-Pacific has surpassed North America as the home of the largest HNWI population, with 4.69 million last year.

Not surprisingly, this wealth creation in Asia-Pacific has drawn a lot of attention from western institutions, including family offices seeking to tap into the possibilities it implies. Among these is Oracle Capital Group, a London-based multi-family office now serving clients from emerging markets, including those in Southeast Asia.

Martin Graham, the group’s chairman, tells Asia Asset Management that they plan to set up an office in China over the next 18 months, the idea being to back their Chinese partner Shanghai International Trust, a major asset manager for the country’s well-to-do. The two firms signed a partnership agreement in March, one expected outcome of which is helping Oracle Capital expand into the Mainland.

Under the agreement, the parties will work together on fund management activities pertaining to Chinese investors. This includes launching and managing private equity investment funds for wealthy individuals along with institutional clients. Oracle Capital will also assist its Shanghai partner in developing family office solutions, including wealth consultancy and bespoke advisory services.

“In essence, they are bringing the clients and we are bringing our products,” Mr. Graham explains, adding that his firm can help Chinese clients structure their wealth into forms like family foundations or trusts, and source interesting private equity deals; indeed they go as far as providing help in obtaining overseas passports and buying properties for those looking to move abroad.

This contrasts sharply with the approach taken by banks, which largely focus on pitching products. He says his firm sees client relationships as being of the utmost importance especially in the context of this Chinese expansion. “It centers on building very strong relationships, understanding your clients and providing services based on what they need,” he reasons. That’s the rationale for his firm seeking to partner with a local organization which has built a broad client base.

Mr. Graham sees the allure of China as being rooted in the continuous emergence of millionaires who have made fortunes as a result of the phenomenal success of their businesses. Typically, he says, his firm’s clients have made their fortunes from just one country and one sector; so not surprisingly they now seek to diversify their wealth away from those narrow confines.

“Our company was established by entrepreneurs, so we understand how entrepreneurs think, and what their requirements are. And in that context, China is the most obvious place. However we are looking out to Southeast Asia as well; I think Indonesia and Singapore are very interesting. Nevertheless our focus now and for the next few years is definitely going to be China.”

In his estimation, western firms in this space presently have a competitive edge in the Chinese market because it is one in which people see family offices as a fresh concept. He believes there is a pressing need for the newly rich to seek help from experienced people who can understand the issues facing their families, such as the demand for wealth management, family governance and securing top tier schooling for their kids.

Thus he is sanguine about the growth of family offices in both China and the region, the driver being this new, burgeoning affluent super-class. He expects the number of family offices in Asia will be ten times what it is today, with perhaps as many as 100 to 200 family offices in place. Another impetus, though, is coming from the opposite angle, from the European family offices likewise looking to exploit the demand from emerging markets. 


Friday, July 31st, 2015 EN No Comments

Weekly roundup of people news, July 30

Rothschild hires HK chief
Private bank and asset manager Edmond de Rothschild has hired Jing Zhang Brogle as its new Hong Kong CEO. Zhang Brogle will join Rothschild on August 1 and will report to Emmanuel Fievet, the firm’s head of international private banking.

Zhang Brogle replaces Monique Chan, former Hong Kong CEO and Asia head, who left Rothschild in May.

Zhang Brogle joins from Hong Kong-based La Vintoll Capital Management, where she has been CEO and managing partner since January this year, according to her LinkedIn profile.

Prior to that she worked at Bank Vontobel in Hong Kong as head of Greater China between June 2009 and December 2012, where she set up the group’s Asian private banking platform. Between December 2012 and December 2014 she was CEO and managing director of Vontobel Wealth Management Hong Kong.

Between September 2005-May 2009, Zhang Brogle worked at UBS Wealth Management in Zurich as a senior client adviser. Zhang Brogle held various positions at Vontobel Asset Management in Zurich as investment strategist, fund analyst and portfolio manager between 2001 and 2006.

HSBC GAM names sales, distribution heads
HSBC Global Asset Management has appointed new heads of sales and distribution in Asia. Alison Brown joined HSBC GAM yesterday (July 29) as wholesale head of sales for Hong Kong and China. Soren Beck-Petersen has been appointed as Asia-Pacific head of distribution for private banks, and assumed his new position on the same day. Brown will be based in Hong Kong and reports to Pedro Bastos, Hong Kong CEO and Asia-Pacific regional head. Beck-Petersen will be Singapore-based and reports functionally to Bastos and locally to Kalen Lim, Singapore CEO.

HSBC GAM said that Brown’s position had been expanded to cover fund distribution in China, while Soren’s was newly-created.

Brown’s remit will be to drive HSBC’s fund distribution in Hong Kong and China, including the firm’s participation in the mutual recognition of funds (MRF) scheme. She will be covering fund selection and distribution of HSBC funds in Hong Kong and China under MRF.

Soren will be responsible for client relationships in the Asia private banking sector.

Brown comes from Manulife, which she joined in January 2012 and was most recently head of wealth management for Singapore, having also served as regional head of business development for wealth. Asked whether a replacement had been found for Brown or if there was a hiring process in place, a Manulife spokesperson merely said that “a further announcement will be made in due course”.

Prior to joining Manulife, Brown worked at banking group ANZ as a senior director for Asia-Pacific insurance between November 2009-February 2012. She was head of retail insurance distribution at Deutsche Asset Management (Asia) between June 2007-April 2009 and head of Southeast Asia regional business development for Axa Life between June 2005 – June 2007.

Beck-Petersen joined HSBC GAM in October 2004 and was previously a senior product specialist at HSBC in London, covering a range of local investment capabilities.

TPG recruits Mumbai MD
Private equity firm TPG Growth has hired Anjali Bansal as Mumbai-based managing director.

A spokesman for the firm said that the role was newly created. The hire was announced on July 29.

Bansal was India MD for executive search firm/headhunter Spencer Stuart and had worked there since 2005, according to her LinkedIn profile. Prior to that she worked for consulting firms Egon Zehnder (2004-05) and McKinsey Co (1997-2003). She is a board member of GlaxoSmithKline Pharmaceuticals India, Bata India, and Tata’s Voltas.

TPG Growth’s managing partner Bill McGlashan said Bansal’s “strong institutional network will help enhance our market presence across Asia and Africa”. Bansal’s role is focused on human resources at the PE firm’s Asia and Africa portfolio companies. 

The spokesman could not confirm whether TPG Growth would be replacing David Gowdey, who is joining Singapore-based Jungle Ventures, according to a July 23 announcement from the early-stage venture capital firm.

According to his LinkedIn profile, Gowdey had worked for TPG Growth in Singapore since January 2012. Prior to that he launched a VC fund – Xplorer Capital – in March 2011, following twelve years as online giant Yahoo’s head of international MA between November 1999-December 2011.

Gowdey becomes Jungle Ventures’ fourth managing partner, alongside Jayesh Parekh and co-founders Anurag Srivastava and Amit Anand. He will focus on early stage (series A and B) funding for high-growth consumer Internet start-ups. Jungle Ventures is raising its second South Asia-focused fund, which is targeted to be much larger than the $10 million first fund the firm raised in 2012. The new appointment comes after Jungle Ventures announced on July 2 that Ratan Tata would be joining the firm as a special adviser.

Standard Life hires investment directors
Global asset manager Standard Life Investments has hired Jason Yu and Dongyue Zhang as multi-asset investment directors. Yu and Zhang have joined the firm’s Hong Kong-based global investment specialist team and report to Jonathan Price, global head of investment specialists. Yu joined in April while Zhang started at the firm on July 2 in the newly-created roles.

Yu joins from Wellington Management Company in Hong Kong, where he was an investment director specialising in fixed income and absolute return products from March 2008 – March 2015. Prior to that he was an associate at Wells Fargo Securities in New York from 2007-2008. He also worked at Barclays Capital in New York between 2006-2007.

Zhang joins from Goldman Sachs Asset Management in New York, where he was a vice-president and a portfolio manager in the global portfolio solutions group from 2010. Prior to that he was an associate actuary at consultancy Towers Watson from 2007 to 2010.

Capital Group elects new chairman
The board of Capital Group Companies has elected Tim Armour as its new chairman, following the death earlier this month of James Rothenberg. The $1.4 trillion Los Angeles-based asset manager made the announcement on July 28.

Rothenberg died on July 21 of a heart attack. He served as CIO and manager of the Growth Fund of America, the largest single actively managed equity fund in the world

Armour is currently chairman of Capital Group’s management committee and Capital Research and Management Company.

The firm said the move reflected a leadership succession plan which had been in motion for several years and was formalised after the death of Rothenberg.

Armour said: “All of us here at Capital deeply mourn the loss of our friend and colleague, Jim. He was a purposeful leader, who possessed a talent for taking decisive action in the best long-term interests of our clients, investors and associates.”

Armour joined Capital 32 years ago, and early on was an equity investment analyst, covering global telecommunications and US service companies.

In Asia, Capital manages approximately $16 billion for clients and investors. It has offices in Sydney, Tokyo, Hong Kong, Singapore, Mumbai and Beijing.

BNP names Vietnam head
French bank BNP Paribas has named Aymar de Liedekerke Beaufort as head of country for Vietnam and CEO of its Ho Chi Minh City branch, with effect from July 28.

He succeeds Luc Cardyn, who in June became the bank’s Indonesia country head. Cardyn had been head of Vietnam since March 2008.

De Liedekerke Beaufort reports to Pierre Veyres, regional head for Southeast Asia and CEO of BNP Paribas Singapore.

De Liedekerke Beaufort joined BNP Paribas in May 1991 and has held a variety of roles at the bank across Europe. Prior to this new appointment, de Liedekerke Beaufort had been head of corporate coverage for Germany, based in Frankfurt, since 2012. His positions over the decades have included head of country for Czech Republic and Slovakia, head of country for Hungary and southeastern Europe, and deputy head of corporate and transaction banking for Europe.

Northern Trust appoints Asia risk chief
Northern Trust has appointed Simon Willcox as head of investment risk and analytical services (IRAS) for the Asia-Pacific region. Based in Singapore, Willcox will lead the delivery of technology, reporting and consulting services for institutional investors and asset managers in the region.  He reports functionally to Fiona Horsewill, Northern Trust’s global head of product and IRAS and regionally to William Mak, head of Asia Pacific for Northern Trust. 

Willcox joined Northern Trust in 2003, according to his LinkedIn profile, and was most recently London-based global head of performance product.

He was previously head of performance measurement for Lombard Odier in London between 2000-2003 and a performance consultant at KPMG between 1999-2000. Between 1994-1999 Willcox was a vice-president and head of performance measurement at JP Morgan Asset Management in London.

Moody’s names new stress-testing MD
Credit ratings agency Moody’s has named David Hamilton as its new Asia-Pacific managing director for stress testing and credit risk analytics.

Based in Singapore, Hamilton will be responsible for Moody’s Analytics’ business development across the region and will address practical challenges of credit risk measurement and management, with particular regard to stress testing.

Hamilton has been at Moody’s for 18 years and has held various senior positions at both Moody’s Investors Service and Moody’s Analytics.

Prior to his new role, Hamilton worked as managing director for Moody’s Analytics’ Capital Markets Research Group in New York. While at Moody’s Investors Service, he worked on corporate, sovereign, and municipal credit risk, as well as structured finance. Before joining Moody’s in 1997, Hamilton worked in the regional economics group at the US Federal Reserve Bank of Philadelphia.

HKEx chief gets three more years
Charles Li, chief executive of Hong Kong Exchanges and Clearing, has signed up for a new three-year term. HKEx said in an announcement on July 28 that Li’s contract as head of the Hong Kong bourse would be extended from October 16, 2015, to October 15, 2018. Local regulator the Securities and Futures Commission has approved the move.

Li joined HKEx in October 2009 and became CEO on January 16, 2010. Prior to joining HKEx, Li worked in investment banking for a number of firms, including JP Morgan China, where he was chairman between 2003-2009, and Merrill Lynch China, where he worked from 1994-2003 and served as president in his final four years.


Thursday, July 30th, 2015 EN No Comments

Young, rich, misunderstood: Five ways you must adapt for younger HNWIs

Forget the ‘young and dumb’ stereotype, the rich under 40s are likely to be fussier than their parents about who they take financial advice from, and what they expect from an adviser, according to the latest research.

A little over a quarter of Europe’s high net-worth individuals (HNWIs) under the age of 40 believe recommendations from their wealth management firm have not been in line with their risk tolerance, according to the latest research.

This finding – which compares to a global average of 17% – is drawn from Generation sceptic: Meeting the millennial standard, the third report in the 2015 Futurewealth series by NPG Wealth Management, SEI and Scorpio Partnership.

The research takes into account the views of 3,113 investors from around the world with an average net worth of $2.7m.

It suggested the youngest in that group are a demanding bunch.

Here are five things about the rich under 40s you need to know if you want them as clients:


1) This generation is less happy with the services provided by their wealth management firm than their older peers.

2) In Europe, a fifth of under 40s said their adviser had failed to properly explain how investment performance has been generated.

3) Rich European under 40s are also unhappy about a lack of explanation on how investment strategies can meet their financial goals, with a quarter stating this outcome had not been met.

4) Younger clients are significantly more focussed on security processes, with 30% of European under 40s citing this as an important influencer over their trust in a wealth management firm, compared to 20% of all respondents.

5) The under 40s place more emphasis on their adviser’s profile on a professional networking site, as well as the credentials supplied by the business – so it’s time to get a LinkedIn profile.


“Wealth management firms need to be mindful that younger clients are not as satisfied about the service delivery as their predecessors” said Marc Stevens, CEO of NPG Wealth Management.

“The implication is that institutions will need to work harder to understand the dynamics of this client group to ensure that the quality of outcomes does not slip.

“In particular, younger clients are much more information-hungry than their predecessors and require both education and mentoring.”

Further reading: Why advisers can’t ignore younger workers


Categories: Better Business|Investment

Topics: Next generation|Under 40s|Financial advice


Thursday, July 30th, 2015 EN No Comments

Tips from a ‘matchmaker’ for the newly affluent in search of a wealth manager

Online matchmaking services are aplenty these days especially with the help of modern technology. The abundance of dating apps and websites makes scoring a date seem like a breeze. In a world ruled by technology, here comes yet another online matchmaking service – one that pairs you with a wealth manager. dubs itself as a matchmaking service that brings together high net worth individuals and wealth managers that suit their needs. The site was launched in Britain back in 2012 and found its way to Singapore last month.

CEO and co-founder of Mr Dominic Gamble told AsiaOne in an email interview that the relocation of the company base from Britain to Singapore was a “logical choice” because of how the latter is “predicted to be the largest” global wealth management hub in the next decade. He also credits Singapore’s legal system and local investors for the move.

“The support lent by the Government has gone a long way to helping young businesses through the early stages and that is paying big dividends.”

Through the site’s proprietary matching algorithms, it has already helped well over 1,000 affluent investors find their best-matched providers in the UK, Mr Gamble added.

Automated advisory platforms, also known as ‘robo-advisers’, such as have already been made popular in the United States (US) as well as the United Kingdom (UK).

Despite its availability, Mr Gamble said technology is a “clear challenge” for the wealth management industry because it is not solely about speed and expertise when it comes to technological enhancement but the “sheer cost of the investment in technology”.

He went on to say that larger players may invest and develop their technology internally whereas smaller wealth managers will have to go through other options such as franchising, which thus poses great opportunities for the start-up community.

Mr Gamble added: “It’s quite unique to be in a community which is so vibrant with young entrepreneurs and for us within the ‘fintech’ space, it’s especially vibrant.”

A Bloomberg article published in June this year referred to a study done by The Boston Consulting Group that showed how Singapore had the highest concentration of millionaires in Southeast Asia in 2014.

Mr Gamble acknowledges this and said the “strength and robustness” of Singapore’s wealth management industry is something to be “proud of and used”.

Singapore’s wealth managers have become even more steadfast and are keeping up with times by introducing new products and services for their clients, including services that are more than just financial-related. It is therefore safe to say that wealth managers in Singapore are in for the long run.

While does not provide investment advice, Mr Gamble does offer a few tips for the newly affluent that are looking for a wealth manager or are using robo-advisers for the first time:

1. Meet 3 wealth managers for comparison purposes

“Finding a good wealth manager IS easy now and making sure that your investments are not over-exposed, over-risked, well-structured for your lifestage and family, is critical and not to be taken lightly.”

2. Ask the right questions

“Don’t be impressed only by branding, don’t only concentrate on fees – important as they are, there is much more to the long-term prosperity of a relationship (between a high net worth individual and a wealth manager)”

3. Understand the culture and the typical clientele of the financial institution or firm you picked – are they similar to you?

“(Taking care of your finances) yourself comes with caution – don’t gamble your personal wealth, have professional expertise by your side.”

4. Ask the institution you selected about what they think you should do

“Receiving holistic advice from an institution that is experienced in the wealth challenges and opportunities of clients like you is valuable.”

Face-to-face contact still means a great deal to clients today, said Mr Gamble. He believes that while this “will not change any time soon,” online platforms like are the initial source for clients who want an independent filter when choosing the best wealth managers for them.


Thursday, July 30th, 2015 EN No Comments

St James’s Place buys Bristol wealth manager

The firm has agreed to buy Rowan Dartington, a group that specialises in discretionary investment management as well as a range of stockbroking services. It is understood the deal will be in the region of £30m to £40m.

David Bellamy, chief executive of St James’s Place, said: “As our business grows, we continue to seek opportunities to broaden our investment and related services for clients. That was the rationale behind our new banking service, the St James’s Place Money Management account, we introduced in association with Metro Bank earlier this year.

“As part of that strategy, today we’re pleased to announce that we have entered into an agreement to acquire Rowan Dartington Holdings Ltd, a specialist stockbroking and discretionary investment service.

“The supplementary services, which include advisory portfolio management, direct equity, trust and charity portfolio management, will broaden the range of investment options we can offer to existing clients and enable us to access new clients who value such services.”

Graham Coxell, executive chairman at Rowan Dartington, added: “This opportunity will not only provide a strong platform for St. James’s Place to provide discretionary fund management services to high net worth clients, it will also enable Rowan Dartington to continue to develop and support the propositions and services to our existing and new private clients, as well as the broader UK financial adviser market.”


Wednesday, July 29th, 2015 EN No Comments

Salentica® CRM Protects Your Portfolio Data Using Microsoft® Azure

Salentica CRM – Integrated CRM for Wealth Managers

The ability to push data back and forth between our CRM and Advent Axys® is what sets Salentica apart from all the other firms.

Salentica, the leader in integrated CRM solutions for Wealth Managers, is pleased to announce the Salentica Data Broker, a data exchange middleware hub that leverages Microsoft® Azure to provide secure, real time data integration to leading custodian platforms including the Schwab OpenView Gateway™ as well as to other leading financial services platforms for Orion Advisor and Laser App. The Salentica Data Broker provides a secure data exchange platform for Advisors using Salentica CRM powered by Microsoft Dynamics CRM.

“Advisors need real time access to their custodian data as well as to be able to connect to the applications they use in the Cloud to be able to provide a high level of service to their clients. At the same time, data security is of paramount importance given the information being exchanged. The Salentica Data Broker provides a secure and trusted platform for the exchange of information between Salentica CRM and the applications and data sources, such as the Schwab OpenView Gateway, that advisors rely on to service their clients.” Says Bill Rourke, President, Salentica.

Click here to watch a brief video of our integrated CRM for Wealth Managers.

About Salentica

Salentica is the leading provider of integrated CRM solutions for wealth managers, serving the needs of private wealth managers, RIA’s, Family Offices, Trust Companies, Private Banks and Independent Broker Dealers for over 25 years. Salentica CRM is offered as both an On Premise and Cloud-based solution powered by the leading CRM solutions today including Microsoft Dynamics CRM and Salesforce CRM. Salentica CRM provides advisors with a complete view of the client through our pre-built integration solutions to industry leading providers including Schwab OpenView Gateway™, TD Ameritrade’s Institutional Veo®, Orion Connect®, Envestnet Tamarac Advisor Rebalancing, Laser App®, and portfolio accounting solutions framework for Advent Black Diamond, Axys® and APX® and more. Salentica’s integration solutions use Salentica’s robust Data Broker technology ensuring the highest level of data security. Salentica is also a Gold Certified Microsoft Dynamics CRM partner.

About Microsoft Azure

Azure is Microsoft’s cloud computing platform; a growing collection of integrated services—analytics, computing, database, mobile, networking, storage, and web—for moving faster, achieving more, and saving money.

Azure supports the broadest selection of operating systems, programming languages, frameworks, tools, databases and devices. Run Linux and Docker containers; build apps with

JavaScript, Python, .NET, PHP, Java, Node.js; build back-ends for iOS, Android, and Windows devices. Azure supports the same technologies millions of developers and IT professionals already rely on and trust.

Microsoft Azure is a class leading cloud platform that is independently verified to meet high security compliance standards. Microsoft Azure is compliant with a number of standards including SOC 1/SSAE 16/ISAE 3402 and SOC 2.

Salentica CRM is the property of Salentica Inc.


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Wednesday, July 29th, 2015 EN No Comments