#wealth-management

#wealth-management

Flanks is shaking up the wealth management industry by making it simpler and way more efficient for financial institutions. Our SaaS platform is designed to help banks, family offices, and wealth managers get a full picture of their clients' financial assets-all in one place. 💼💡 Founded in 2019 and based in Barcelona, we've brought together a team of passionate wealth management and tech pros, all with a shared goal: to change how wealth management is done.

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.

"I believe the Roth IRA serves as an exercise to teach the kids to set aside money and see how fast it will grow due to compounding interest."

Inheriting a large amount of land can lead to significant financial opportunities, but it also introduces challenges in managing wealth and ensuring a successful sale.

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.

My youngest brother received a sizable compensation of around €40,000 after a playground accident but now faces financial instability after excessive spending.

Prenups for ultra-high net worth couples involve many parties, requiring collaboration among financial advisors, business partners, and legal experts for effective asset management.

Currently, affluent buyers are prioritizing strategic decision-making like affordability and long-term value, marking a shift toward what is termed 'smart luxury' in real estate.

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.

Gen AI systems trained on large language models like GPT-4 are enhancing customer interaction by resolving complex queries and providing human-like conversations.

This year's selections focused around the power of curiosity, reflecting on a transformation standpoint that resonates with the wealth management goals of our clients.

A reverse mortgage is often misunderstood as a last resort for financially destitute seniors. However, that perception is far from accurate, said George Vrban.

Equity release schemes enable homeowners aged 55 and over to access property wealth without selling, but understanding implications and drawbacks is essential before proceeding.

Nicolas Cage lost much of his fortune through extravagant purchases, including an octopus and a dinosaur skull, eventually owing the IRS $6.3 million.