What the rise of populism means for your investments October 25, 2016 "Fruitcakes, loonies and closet racists” was how David Cameron described members of Ukip in 2006. A decade later, Ukip has achieved its principal ambition of a Brexit vote and Cameron is no longer a politician. The growth in support for populist political movements across Europe and other developed economies has been rapid. Founded just six [...]
The devil you know, the devil you don’t: How to protect your investments whoever wins the US election October 25, 2016 As polling day draws near, it is regrettable that the contest to become the 45th President of the United States has been more about personality than policy. The campaign has been distinguished on one side by preposterous promises to suspend the entry of Muslims into the country and build a hard border with Mexico, and [...]
Resurgent protectionism threatens both the US economy and share prices – and not just if Trump wins October 24, 2016 Protectionism – the practice of shielding a country’s industry from foreign competition – and the prospect of a descent into a beggar-thy-neighbour global trade war is one of the biggest risks to investment returns over the next decade. Indeed, politicians are already succumbing: according to the Global Trade Alert initiative, the number of protectionist measures enacted [...]
Online broker TD Ameritrade in $4bn takeover of rival Scottrade October 24, 2016 TD Ameritrade has agreed a $4bn (£3.2bn) deal to acquire Scottrade Financial Services, bringing together two online brokerage giants. Under the deal, TD Ameritrade’s biggest shareholder, Toronto-Dominion Bank (TD Bank), will acquire Scottrade’s online bank for $1.3bn in cash. Read more: Interactive Investor in takeover to form UK's second largest online broker Immediately after that [...]
How technophobe wealth managers risk being left behind by rivals October 20, 2016 Technophobe wealth managers have been told to get with the times or face being left behind by rivals, a new report out today warns. Groups including Brewin Dolphin, Munnypot, Nucleus, SEI and Sesame Bankhall Group contributed to the MRM report, which warns that firms could lose assets and customers by not investing in digital. Read [...]
Wealth manager Brooks Macdonald names new chief exec as assets under management rise 7.5 per cent October 20, 2016 Brooks Macdonald today named a new chief executive as the wealth management firm reported a seven per cent growth in assets under management (AUM). Caroline Connellan, HSBC’s head of UK premier and wealth, is set to join the company next April and will replace Chris Macdonald. Read more: Leeds wealth manager aims to take revenues [...]
Robots, AI and digital disruption are coming to the hedge fund industry October 20, 2016 The robots are coming. And the hedge fund industry appears to be accepting it. “There’s a very strong business case for replacing humans with algorithms in a lot of areas of the business,” said one respondent in a survey of more than 100 hedge fund leaders and executives. Some 58 per cent of those interviewed [...]
The Brexit rally is less fragile than it looks October 19, 2016 The performance of UK shares has generally confounded most strategists. Since the vote to leave the EU in June, UK savers have enjoyed returns of close to 15 per cent. While the weakness of sterling has eaten most of those returns for overseas investors, we are in a much better place than many were predicting in [...]
Leeds wealth manager aims to take revenues north with London firm takeover October 18, 2016 Leeds-based wealth management company the Private Office (TPO) has acquired a London financial planning firm. The cash and equity deal for PQR Financial Planning will strengthen TPO’s London presence and create a platform for further growth, the firm said. The combined business, which also includes TPO sister company SavingsChampion.co.uk, will have a turnover of £8.5m. [...]
Discretionary fund managers are expecting “choppy waters” after Brexit vote October 18, 2016 Discretionary fund managers (DFM) are anticipating “choppy waters” after the Brexit vote, a new study has found. Seven in 10 believe the UK’s Leave vote poses a threat to investments, while 55 per cent cited weak global GDP growth and 52 per cent geopolitical uncertainty. The findings were based on a CoreData Research study conducted in [...]