The wealth management industry needs to better service families in Asia that are navigating competing and sometimes conflicting values as they transfer wealth, knowledge and skills.
Scorpio Partnership
Singapore – already close to matching Hong Kong as a wealth centre in terms of assets – could be getting a boost as a result of the recent protests, argues Scorpio Partnership.
An overheating Asian property market and a depreciating US dollar are prompting Asian investors to seek diversification and returns in US real estate.
Tighter cross-border rules, less arbitrary national government policy and improving returns at home are likely to prompt rich investors from emerging markets to move assets back onshore.
The shortage of relationship managers has become acute against increasing client wealth over the past five years, writes Scorpio Partnership.
There are more than half a million wealthy individuals in the Gulf Cooperation Council region with too few private bankers to serve them. It could be time for wealth managers to step up.
Almost one in nine of the richest people in the UK are of Indian descent. That could swell if a surcharge on the nation’s top taxpayers goes ahead, writes James Horrax.
The recent deal between Commonwealth Bank of Australia and Facebook to deliver an online banking service may signal a changing ethos when it comes to financial technology.
The new reality for wealth managers will be characterised by lower margins, increased costs and client caution. Firms must focus either on global reach or adopt a specialised approach.
Last year’s rule changes will continue to have global implications, but regulators need to beware the impact of their work is not fewer clients served by fewer bankers offering fewer choices.
Scorpio considers the future shape of the wealth industry, its evolving relationship with investment banking and the potential impact of the UK’s Vickers Report.
A slew of bad news overshadowed one of the stories of the summer: how regulators are making headway against tax evasion. The landscape is changing for good, writes Scorpio.
