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• July 27, 2010 - Australia's Wealth Industry Faces Threat Of "No Frills" Pension System - Lachlan Colquhoun, WealthBriefingAsia.
  

  Australia's mandatory pension regime has created a bonanza for the wealth management industry but the boom times are under threat from a new government plan for a “no-frills” type of pensions account for the vast majority of the population. Since legislating to make employers contribute 9 per cent of an employee's gross wage into a superannuation ­ or pension fund since the mid-1990s, Australia has been lauded for building up the world's fourth largest funds management industry, with A$1. 3 trillion ($1.

• June 22, 2010 - China Shows Confidence In Growth By Weakening The Forex Peg - Tom Burroughes , .
  

  As news stories go, it may not have the visual impact the massive oil leak in the Gulf of Mexico or, for that matter, the shenanigans of footballers in this year’s World Cup. But China’s decision to relax its currency peg to the dollar is something wealth managers should pay attention to. China’s decision to remove the peg has caused Asian and other emerging market currencies to surge, as investors took the view that the Asian giant’s decision showed increasing confidence in a global recovery.

• April 22, 2010 - The Goldman Sachs Affair - Lessons For Wealth Management - Tom Burroughes, .
  

  Just when we thought the worst of scandals from this financial turmoil had passed, here comes Goldman Sachs’ alleged outrage of dishonestly playing both sides of a market on products it was selling. The fine details of the scandal need not detain us here, which given the complexity of the details, is just as well. What interests this publication, however, is whether, and how, the affair will affect wealth managers and their clients.

• April 18, 2010 - Why Private Bankers Must Embrace A Post-Secrecy World - Keith Johnston, STEP.
  

  One of the more unexpected outcomes of the financial crisis of late 2008 was the sudden collapse of banking secrecy. As soon as governments recognised their immensely strengthened negotiating position against the banking sector, they seized the opportunity to impose a regime they had long yearned for. At the same time they tried to divert some of blame for the crisis onto the offshore sector rather than their own regulators.

• March 23, 2010 - New US Law Threatens Expats - Tom Burroughes , .
  

  Those ladies and gentlemen down in Washington DC have been busy churning out a raft of new legislation. And while a lot of mainstream media attention has understandably focused on the recent healthcare reform, a freshly minted economic and tax package has serious implications for expat US citizens. The HIRE Act, or Hiring Incentives to Restore Employment Act, was covered by almost all media outlets that I could track as a job creation measure, involving the granting of a sort of tax holiday for firms taking on the unemployed.

• March 16, 2010 - Wealth Advisors Still Some Way Off In Meeting Client Needs - Michael Maslinski , Maslinski & Co Ltd.
  

  The stock market rally has brought a welcome return of investor confidence and a much needed boost to the wealth management industry. The big question for the industry, however, is whether the pain of the last two years will be rapidly forgotten, or whether there are enduring changes in client attitudes which will have a fundamental impact on the type of service they require. Investors have been deeply shocked, not only by the steep (if temporary) downturn in the market, but by the near collapse of the banking system and by a series of scandals which have inevitably eroded trust in investment professionals.

• February 22, 2010 - Beware The Impact of Basel II On Bank Lending - Alec Haverstick, Boxwood Advisors.
  

  I read the news today, oh boy. But it wasn’t about ten thousand holes in Blackburn, Lancashire. Rather it was about the latest populist attack on the banks.

• February 1, 2010 - In-House Is Proving The "In" Thing In Wealth Management - Tom Burroughes , .
  

  At the very time that the US government is planning to take the step of breaking banks into their component parts to ward off future financial crises, it appears that a more fractured banking market is becoming less popular with clients, as recent survey evidence shows. There appears, at any rate at first glance, plenty of reason for why this shift in opinion makes sense. In my recent conversations with bankers, it appears that firms such as Credit Suisse, Barclays Wealth and BNP Paribas say their wealth management customers have shown greater demand for in-house products, with the security and familiarity of such products proving key attractors.

• January 15, 2010 - Google's Threat To Quit China Sounds Wakeup Call - Tom Burroughes, .
  

  In recent years, China has burned brightly as one of the BRIC economies that are seen as providing much of the driving force for wealth management. Almost every week, this publication carries news of a joint venture between a Western firm and a Chinese counterpart or a report on how banks are optimistic about the Asian giant’s prospects. And yet recent events should encourage wealth managers to be cautious.

• December 1, 2009 - A Timely Warning From Dubai - Tom Burroughes , .
  

  Just when private bankers might have thought that the worst of the financial turmoil has passed, the recent debt drama in Dubai is a timely reminder that problems remain. I consider that to be a good development in the long run if it squashes any risk of complacency. Dubai World, the state-run organisation in the Gulf city-state, is seeking for a delay in repaying its $59 billion debt pile.




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