If you're looking for art advice, consider asking your bank. Rebekah Bowling, an art advisor at Citi, helps ultra-high-net-worth clients in Citi Wealth manage and build their art collections and knows how hard it can be to make sense of the market. Bank of America, Morgan Stanley, and UBS are among the other banks offering art advice to wealthy clients.
Starting Oct. 15, financial advisors will be able to offer bitcoin and crypto funds to any client - including those with retirement accounts - according to reporting by CNBC. Until now, only investors with more than $1.5 million in assets and an aggressive risk profile could participate. In other words, Morgan Stanley will soon let all its wealth management clients, including those with retirement accounts, invest in crypto. No asset-cap required.
When it comes to finance, Palm Beach has long been a playground for billionaires, investors, and family offices. In the middle of this evolving landscape is Eric McNeil, a fund manager whose innovative approach is redefining wealth and influence. Through The Onyx Reserve and his exclusive Onyx House, McNeil has positioned himself as one of the most powerful figures in the intersection of finance, culture, and lifestyle.
For perspective: Global assets under management (AUM) in the wealth market reached $159 trillion in 2024, after growing by 20% over the prior five years, according to the Natixis Wealth Industry Survey. As for private assets specifically, PitchBook has projected that AUM held by general partners (GPs) will increase from $18.7 trillion in 2024 to $24.1 trillion by the end of 2029.
HSBC's Pulse Check survey showed that nearly 68% of local customers expect no change or improvement in their wealth position by year-end, despite global uncertainties.
For the third year running, Singapore ranked as the world's most expensive city for high-net-worth individuals, according to the latest Global Wealth and Lifestyle Report from Julius Baer Group.
A trust is a legal arrangement where assets are managed by a trustee for the benefit of a beneficiary. They are popular estate planning tools to ensure financial security, control asset distribution, and potentially reduce taxes.
Prenups for ultra-high net worth couples involve many parties, requiring collaboration among financial advisors, business partners, and legal experts for effective asset management.
Rachel Reeves, after a backlash from wealthy individuals following the introduction of new inheritance tax regulations, is reportedly considering modifying changes affecting non-domiciled statuses and taxing worldwide assets.
Equity release schemes enable homeowners aged 55 and over to access property wealth without selling, but understanding implications and drawbacks is essential before proceeding.
