Paul Feeney has been appointed as chief executive officer (CEO) of the £63 billion arm of Old Mutual’s wealth management business. Old Mutual Wealth Management, which includes Skandia UK, Skandia International, its European business, Skandia Investment Group, and Old Mutual Asset Managers, saw net cash flow of over £2 billion last
Read more →BNP Paribas Wealth Management has announced seven senior appointments as part of its growth plan for the Asia-Pacific region. Ivan Ching, Alex Xu, Maggie Zhang and Mandy Koo joined the China Team to tap the growing high net worth class in China market. Ching and Xu have
Read more →Fidelity FundsNetwork have announced that they will make 50 physically-backed exchange traded funds (ETFs) available on its platform from next week. The platform will launch a initial range of ETFs from Credit Suisse, ETFS, HSBC and iShares on June 18 and make them available alongside all of
Read more →Kleinwort Benson has appointed former Deutsche Bank senior manager Clive Wright to the newly-created role of head of private wealth management offshore, continuing a run of recent senior hires in the company. He will be based in Jersey and report to Stephen Rothwell, head of private wealth
Read more →The FSA has finalised guidance on restricted and independent advice as part of RDR rules, which will include life policies, stakeholder pension schemes and personal pension schemes in its definition of retail investment products, alongside funds, investment trusts, investment trust savings schemes. This finalised guidance will mean a
Read more →Interesting article in Wealth Manager today reporting that Standard Life has struck a deal with 12 fund groups (G12) to market them more heavily to advisers. Wealth Manager understands that Standard Life already has the deal in place with the 12 groups, but is set to go
Read more →Friends Life, the parent company of Friends Provident International, yesterday announced the appointment of James Lai-Hing Tan as General Manager, Asia & Middle East, reporting directly to John van der Wielen, CEO International at Friends Life. Mr Tan will be based in the Hong Kong branch of
Read more →The Financial Services Authority (FSA) has warned that platform providers which currently reward advisers or networks for high business volumes will have to stop the practice after the retail distribution review (RDR). Speaking at the Personal Financial Society platform conference, FSA technical specialist Rory Percival said: ‘It’s
Read more →“The irony is advisers who are still getting trail commission – if the only ongoing fee they get is via that trail commission method through the product fee in this scenario – where’s the incentive for them to move to a fee-for-service model?” Earlier posts have drawn
Read more →Postcards from London – New Media/ Digital Marketing, RDR, and Sales Reward Reflections – May 2012 Just arrived back into a cold and wet Melbourne off the back of two and a half weeks in London. This is the first ‘postcard’ in a series of reflections from
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