Latest news with #wealthmanagers
Bloomberg
07-08-2025
- Business
- Bloomberg
Wealth Firms Are Preparing Richest Australians for Pension Tax Fallout
A looming pensions tax on rich Australians is sparking a flurry of behind-the-scenes planning by the nation's wealth managers, who say clients are actively exploring strategies to shield multi million-dollar balances. Under legislation set to reach the Senate in coming weeks, pension balances of A$3 million ($2 million) and above would face an additional 15% tax on top of the current 15% rate. The proposal, set to affect about 80,000 people, has triggered a wave of interest from affluent savers looking to use trusts, insurance bonds and other strategies to shift funds.
Yahoo
06-08-2025
- Business
- Yahoo
SS&C Technologies integrates wealth offerings into single platform
SS&C Technologies Holdings has introduced SS&C Black Diamond Wealth Solutions, consolidating various wealth management functions into one integrated platform. The solution aims to cater to the needs of wealth managers by simplifying their technology and operational requirements. The suite is currently employed by over 3,000 firms and supports more than 800,000 active users, overseeing assets that exceed $3.6tn. It encompasses several features such as a centralised system for portfolio management and reporting, as well as tools for handling alternative investments. Its Client Portal, which ensures secure communication and facilitates integration with third-party services, accessible both through web and mobile interfaces. The suite also includes customer relationship management (CRM) capabilities that assist in prospecting, managing client relationships, and tracking activities. For trust and retirement planning services, the suite offers accounting, reporting, and the administration of benefits payments. Furthermore, the suite provides Investment Management features, including the creation of investment proposals, a marketplace for investment models, and outsourced chief investment officer (OCIO) services. Trading & Rebalancing tools are also included by assisting in executing trades and maintaining tax-efficient portfolio alignment. The suite is rounded out with Business Intelligence & Billing, which delivers insights into practice analytics and manages revenue. SS&C Technologies Wealth and Investment Technologies co-general manager Steve Leivent said: "SS&C Black Diamond Wealth Solutions gives firms a truly integrated experience without the friction of working across separate systems. 'Advisors can now manage the full client lifecycle from one ecosystem, with seamless data flow, automated workflows, and enhanced insights.' In February, SS&C Technologies expanded its alliance with LPL Financial Holdings, which will now incorporate SS&C's ALTSERVE platform to improve its alternative investment offerings. "SS&C Technologies integrates wealth offerings into single platform " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
02-08-2025
- Business
- Yahoo
Wealth management: What it is and how to find a wealth manager near you
Key takeaways Wealth management is a comprehensive financial advisory service that helps people grow and preserve their wealth. It can include services such as investment management, financial planning, tax planning and estate planning. Finding the right wealth manager is key to meeting your financial goals. Understanding their fee structure is crucial before hiring one. Wealth management is a comprehensive service focused on taking a holistic look at a client's financial picture. It is generally considered a 'high-end' service, and some wealth management firms may require a certain level of investment assets or a minimum net worth. For clients who need this level of service, it can be useful to consolidate all types of financial advice in one place with a single firm. Compare advisors: Bankrate's list of the best financial advisors What is wealth management? Wealth management is a holistic service that focuses on helping mid- to high-net-worth clients grow their money, manage their liability exposure and devise strategies to pass their wealth on to their designated heirs. Wealth managers take a more comprehensive approach compared to an advisor focused solely on financial planning or investment management. Some typical services offered by wealth management firms include: Investment management and advice Financial goal-setting Comprehensive financial planning Tax planning and accounting services Estate planning Philanthropic planning Legal services Retirement planning Business succession planning Some of these services may be offered in conjunction with an outside partner, however. Legal services are a prime example. The objectives of wealth management will vary depending on the investor. The primary goal is to help clients maintain and maximize wealth through comprehensive planning. Learn more: How to find the right wealth manager for you How to find a wealth manager near you Choosing the right wealth manager is essential to meeting your financial goals. To find one near you, follow these four steps: Research wealth managers in your area to see what minimum asset requirements they have and what services they offer. Ask friends and family for recommendations. Bankrate's financial advisor matching tool can also help you identify advisors who provide wealth management services. Review wealth managers' qualifications, such as the certifications they hold. Examples include CFP (certified financial planner), CPA (certified public accountant) and CFA (chartered financial analyst). Decide whether you want to use an independent wealth manager or someone who's part of a larger firm. Understand your wealth manager's fee structure. This table summarizes the basic differences between wealth managers, portfolio managers and financial advisors. WEALTH MANAGER PORTFOLIO MANAGER FINANCIAL ADVISOR A wealth manager provides comprehensive, holistic advice in a broad range of financial and related include: – Investments – Tax and accounting services – Estate planning – Retirement planning – Comprehensive financial planning – Legal and estate planning – Philanthropy A portfolio manager is focused on investment management and generally doesn't offer advice or services in other professional focuses on: – Selecting investments– Portfolio management – Tax-loss harvesting – Cash management Financial advisor is a term that can encompass a number of services. Financial advisors often provide advice on investments, financial planning, retirement planning and other related professional focuses on: – Financial planning – Basic retirement planning – Tax planning – Investments Wealth management services: Are they right for you? Wealth managers work with a range of clients, but a minimum of $2 million to $5 million in assets is the range where it typically makes sense to consider the services of a wealth management firm. Wealth management may be suitable for High-net-worth individuals The children of high-net-worth individuals who are still building assets Professionals in high-paying fields Wealth management strategies will vary based on the specific needs of the client. Some clients may want to focus on preserving wealth, while others may still be in the wealth-building stage. Learn more: Are you rich enough to be in the top 1%? Here's how much money it takes Alternatives to wealth management If the fees or asset minimums required by most wealth management firms seem too high for you, your situation is probably not a good fit for a wealth manager. However, there are other options for getting financial advice: Empower is an online advisory and wealth management firm that offers a number of services with lower minimums and fees than a traditional wealth management firm. Vanguard Personal Advisor Services is a service offered by Vanguard that provides advice and planning to clients. A financial advisor can help you work toward your personal goals if your net worth doesn't require wealth management. There are also online financial advisory services and apps that offer a range of financial services. Robo-advisors have grown in popularity in recent years as well and may offer a lower-cost alternative if you're not ready to work with a wealth management firm. An accountant or CPA can help you with tax planning and strategies. An estate-planning attorney can help you pass assets down to your heirs. FAQs about wealth management What does a wealth manager do? Wealth managers provide holistic financial advice to help their clients grow and protect their money. This goes beyond just providing advice on a client's investments or designing a financial plan. Wealth managers generally work with clients with a higher net worth than a financial planner might. They often work with professionals in related areas, such as tax professionals and attorneys, to help design a comprehensive wealth-planning strategy for their clients. How does a wealth manager get paid? Wealth managers may be paid in a variety of ways. Two common compensation methods are a flat-fee arrangement or compensation based on a percentage of client assets under management. What is the difference between a wealth manager and a financial planner? Financial planner is a term that can mean a lot of things. Financial planners usually focus only on doing financial planning for their clients. Wealth managers provide comprehensive, cross-disciplinary services for their generally high-net-worth clients. Financial planning is just a first step in most cases. Wealth managers integrate this with tax planning, investment advice, estate planning and other services to help clients achieve their goals. Bottom line Wealth management is all about safeguarding your future, achieving your goals and preserving your legacy. Many people don't have the capital needed to meet with a wealth manager, but for those who do, this service can provide a host of long-term benefits. Get started: Match with an advisor to help you achieve your financial goals — Maurie Backman contributed to an update of this article. Sign in to access your portfolio
Bloomberg
07-07-2025
- Business
- Bloomberg
Saudi SAB Invest Makes First Foray Into MENA Private Credit
Saudi Awwal Bank's investment arm plans to raise as much as one billion riyals ($266 million) for its first private credit fund focused on the Middle East and North Africa. SAB Invest has already secured about $100 million from regional wealth managers and family offices and intends to raise the rest within the next year, according to Osama Alowedi, chief investment officer.
Arabian Business
30-05-2025
- Business
- Arabian Business
UAE finfluencer licensing brings ‘long overdue accountability' to social media investment advice, experts say
The United Arab Emirates has launched the region's first licensing system for finance influencers, marking a regulatory milestone that wealth managers say brings 'long overdue accountability' to social media financial content that has often put investors at risk. The UAE's Securities and Commodities Authority (SCA) announced the groundbreaking 'finfluencer' licence on Wednesday, establishing a comprehensive framework for individuals offering investment analysis and recommendations across digital platforms. The move comes as regulators worldwide grapple with the growing influence of unqualified social media personalities on public investment decisions. 'Introducing the Finfluencer license is not merely a regulatory measure; it is a strategic move to redefine the role of regulators in the digital economy,' said H.E. Waleed Saeed Al Awadhi, CEO of the SCA. 'Through this initiative, the SCA aspires to elevate global benchmarks of market integrity, foster transparency, and nurture a disciplined and trustworthy financial environment.' هو الشخص المسجل لدى الهيئة لتقديم توصيات مالية تتعلق بشراء أو بيع أو الاحتفاظ بمنتج مالي أو أصل افتراضي أو تقديم توصية تتعلق بخدمة مالية أو أي مصدر داخل الدولة، من خلال وسائل الإعلام التقليدية أو الحديثة كوسائل التواصل الاجتماعي المختلفة المكتوبة أو المسموعة أو غيرها أو المشاركة… — SCA UAE (@sca_uae) May 30, 2025 The regulation applies to anyone with at least 1,000 followers who provides financial recommendations related to regulated products or entities within the UAE, covering everything from social media posts to public seminars and traditional media appearances. Industry welcomes regulatory clarity Daniel George, Head of Business at St James's Place Middle East, described the licence as 'a timely and necessary move' that addresses longstanding concerns about unqualified advice circulating on social media platforms. 'It brings long overdue accountability to social media financial content, where unqualified advice has too often gone unchecked – putting investors at real risk of scams, misinformation and get-rich-fast schemes that backfire,' George told Arabian Business. The wealth management executive said the regulation validates what traditional financial firms stand for: 'trust, transparency and regulated advice.' He added that it 'resets the playing field and reinforces the value of credible, long-term and professional financial advisory in a market flooded with unverified content.' Legal experts also noted that the UAE's approach stands out for its unusually broad scope compared to existing frameworks globally. Hala Harb, a Senior Associate at Dubai-based law firm BSA, said the regulation 'applies across all media formats, not just social media, but also includes offline appearances such as public events and seminars.' Unlike other jurisdictions that typically target licensed firms, the SCA's rules extend to any individual with a notable online presence providing financial advice, regardless of their location if they target UAE audiences. 'The Finfluencer Law sets an important precedent by officially regulating individual content creators, extending rules to influential figures beyond traditional licensed financial institutions,' Harb explained. In a departure from traditional regulatory approaches, the SCA has waived all registration, renewal, and legal consultation fees for three years. This strategy aims to encourage compliance rather than create barriers to entry. However, applicants must still meet specific conditions, including being a certified financial analyst, having at least six months of finance experience, or providing consistent, credible recommendations based on analysis or third-party recognition. Harb noted that the relatively low threshold of 1,000 followers 'reflects a proactive regulatory stance' and means 'even smaller content creators need to be aware that their financial commentary could now fall under formal oversight.' Market impact and client behaviour The regulation comes as wealth managers report increasing client interest in social media-driven investment ideas. George said his firm has had 'clients walk into a meeting quoting something they've seen on Instagram or TikTok and asking if they should jump on the trend.' He welcomed this curiosity but emphasised the importance of bridging 'the gap between general content and personalised, regulated advice.' The licensing system will help introduce accountability into the discovery phase, he said. St James's Place Middle East said it is watching the space closely but will not rush into collaborations with finfluencers. 'If we do engage with finfluencers in the future, it will have to be with those who share our values: long-term thinking, client-outcome-first, and quality over hype,' George said. The initiative forms part of the UAE's broader strategy to cement its position as a leading regional and global financial hub. The SCA said the regulation demonstrates its commitment to 'safeguarding market integrity, advancing financial literacy, and aligning with international best practices.' George believes the regulatory leadership is crucial for attracting high-net-worth individuals and international business. 'HNWIs and international families want to see that a jurisdiction takes investor protection seriously. This move by the SCA sends a clear message: the UAE is not just open for business, it's serious about doing business the right way,' he explained. Enforcement challenges ahead? While industry experts welcome the framework, questions remain about enforcement, particularly for cross-border content creators. Harb said enforcing the rules across borders 'could be challenging due to jurisdictional limits, gaps in platform oversight, and the difficulties in identifying unregistered individuals.' However, she noted that individuals targeting UAE audiences 'could be subject to action, including takedown requests or platform coordination to restrict non-compliant content,' regardless of where they are based. The exact penalty amounts remain unknown due to the untested nature of the regulation. The next challenge, according to George, is 'enforcement and education – making sure both influencers and audiences understand what the licence means.'
