Monday, 23rd November 2009

 

4 November 2009 - Press Briefing

UK private banks expect to cash in on shake-up in IFA sector

UK private banks are anticipating a surge in assets amid the Financial Services Authority’s proposal to raise minimum qualification norms and substitute commission-based selling among domestic independent financial advisers with fees for advice, according to a Reuters report.

Tracey Reddings, chief of UK private banking at SG Hambros, said her firm hopes to attract £1.3bn (€1.4bn) in fresh inflows by 2012 through luring intermediaries.

Read the original

Most Read

  1. High net worth City workers mull relocating to Switzerland
  2. Miller wealth start-up eyes family office mandates
  3. BarCap acquires Morgan Stanley real-estate subsidiary
  4. Blow for UK property barons as new venture posts £101m loss
  5. Colonel Gaddafi's son buys £10m London property

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Diary: Utopia for Yacht Lovers

Looking to get more from your yacht? Why not share it with others?

More from Wealth Business

  1. Fees: pay your money and take your choice
  2. Managers reluctant to take smaller cut
  3. Fink teams up with E.ON for green fund launch
  4. The geeks inherit a world of pain
  5. Crunch bursts the artistic bubble

2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU

Tel: +44 (0) 20 7309 7788

Company No 3089347