The acquisition of WCAM broadens the fund management capability at Liontrust, increases Liontrust's assets under management to more than £2 billion and gives the company one of the strongest ranges of UK equity funds and teams.
In its Retail Risk Conduct Outlook, published today, the regulator highlighted private banking and wealth management as an “emerging risk”, warning that poor conduct could lead to “widespread detriment”.
Many banks are demanding that clients transfer assets of significant value to qualify for a lower mortgage rate, while others include a clause that says the interest rate will rise after six or 12 months if the promised cash or investments are not deposit
Skandia UK, part of Old Mutual Wealth Management, saw positive net client cash flow (net sales) of £1.8 billion during 2011, driven by continued demand for its Skandia Investment Solutions platform.
Skandia International, the offshore business of Old Mutual Wealth Management, is responding to the UK's Retail Distribution Review by investing £21m to roll out Wealth Interactive.