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Australians’ Personal Wealth Declining

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News

InvestorDaily

Australians’ personal wealth has diminished according to Roy Morgan, with the market researcher finding the country’s gross personal assets – including owner-occupied homes – were at the lowest level of 2018 in the December quarter, dropping by 5 per cent from the previous quarter. The market researcher said Australians’ personal wealth came to $9.7 trillion for the final quarter, a drop of $512 billion from when it was $10.2 trillion in the September quarter. Net wealth (after debt) also decreased by 4.3 per cent to $8.6 billion from $8.9 billion, the survey found.

Average gross household wealth was also found to be at the lowest it has been in the last 12 months, at $1.01 million, a 5.4 per cent below the September quarter. The analysis said average gross wealth per capita also hit a yearly low, having fallen by 5.4 per cent to $475,000, from $502,000 in September. The value of owner-occupied homes saw a decline of 5.2 per cent or $270 billion, accounting for more than half of the decline at 52.7 per cent in gross personal wealth for the quarter.

The rest of this article can be found at investordaily.com.au.

Macquarie assets poised to grow

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News

InvestorDaily

Macquarie Group is well placed for growth in its wealth management, according to Morgan Stanley, which expects the bank’s gross inflows in its alternative assets sector to more than double in 2H19. The report has also forecasted Macquarie’s Investment management flows to improve from flat in FY18-19 to around 3.5 per cent in FY20-21, with stronger asset management and commodities revenue to drive 2 per cent of its earnings per share upgrades. Morgan Stanley has upgraded gross inflows for the alternative assets business Macquarie Infrastructure and Real Assets (MIRA) for the second half, now expecting around $20 billion instead of its prior $8.5 billion, citing reasons including the firm gaining external management of the $2.5 billion The Infrastructure Fund (TIF) in Australia.

Alternative allocations will rise from around 5 per cent currently to 6 per cent by 2023, the research said, with assets under management (AUM) to grow from $8.4 trillion to $14 trillion. Morgan Stanley said MIRA will be one of the players best positioned to tap into the global sector’s growth. The analysis expects the company to gain around 15 per cent growth for FY19, in line with its guidance.

The rest of this article can be found at investordaily.com.au.

Volt Bank Partners with Wealth Platform

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News

InvestorDaily

Volt Bank has formed a technology alliance with wealth management platform Spitfire to set a new standard for banking and wealth management integration. Under the new alliance Spitfire clients will be able to access the neobank Volt’s soon to be launched deposit products in an effort for the bank to cement its position as a ‘one stop shop’ for investors. Customers of the two companies will have the ability to view and trade their assets in a single portal, including viewing and trading global assets.

Volt co-founder and chief executive Steve Weston said the collaboration between the two companies made sense as they shared the same vision. “Spitfire and Volt share an ambition to improve their customers’ lives through technology. This partnership will contribute to a seamless and transparent investment experience and better connect Australians to international opportunities.”

The rest of this article can be found at investordaily.com.au.

Don’t Underestimate Millennial Investors: Report

Posted by Anton Murray Consulting on . Posted in Investment Banking News, Market Commentary, News, Wealth Management News

InvestorDaily

A new report has shown that the millennial generation will be an investment force to be reckoned with as they build their careers and inherit the baby boomer wealth. The Legg Mason Global Investment Survey found that millennials as investors are more optimistic and willing to embrace risk than their baby boomer parents. Millennial investors are also more idealistic in their approach and embraced ESG assets and considered ethical factors in their returns judgement.

Seventy per cent of Millennials would choose funds or companies in accordance to ESG factors while only 21 per cent of baby boomers made the same claim. “More than anything, the research paints a picture of millennials as conviction investors, backing their own judgment and values. Australian millennials see the best opportunities in the year ahead coming from international stocks, real estate, cash and domestic stocks,” the report read.

The rest of this article can be found at investordaily.com.au.

Robo-Advice Growth a Worldwide Trend

Posted by Anton Murray Consulting on . Posted in News, Wealth Management News

InvestorDaily

A new survey reveals the robo-advisory is increasing in competition across both the Asia-Pacific and European markets. Research from data and analytics company GlobalData’s Wealth Managers Survey found that the robo-advisory market is increasing in competition globally, with more start-ups entering the wealth management industry year by year. According to GlobalData wealth management analyst Sergel Woldemichael, traditional wealth managers across the globe in previous years had a widespread level of agreement that robo-advice would seize market share.

“However, as of 2018, the level of agreement that Asian-Pacific and European wealth managers will lose market share to robo-advisors is beginning to align,” Mr Woldemicheal said. “For traditional wealth managers to reduce the risk of losing market share, they would benefit from introducing a digital investment platform.”

The rest of this article can be found at investordaily.com.au.