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| Fund group M&A continues apace
The big news this week was the acquisition of Legg Mason by Franklin Templeton for USD6.5 billion. Consolidation in the fund industry is hopefully a good thing for investors, with larger firms offering products with smaller fees.
The development of digital solutions that free the adviser up to spend more quality time with clients are among the most popular trends in the industry today. Advicefront’s Jose Supico noted that Europe’s wealth offering differed from that in the UK and has built a digital solution designed to increase the efficiency of the process and allow advisers more time to spend with their clients.
Meanwhile London-based fintech firm Nucoro has been on its travels and informs us that Sweden is poised for growth in the digital wealth space.
Finally, do vote in the Wealth Adviser awards. All the information is here…
Beverly Chandler Managing Editor, Wealth Adviser
Companies in this issue
Advicefront
Franklin Templeton
Legg Mason
Nucoro
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| UK assets on Composer rise to GBP135bn | | Thu | 20 Feb 2020, 12:49 | | GBST, a provider of wealth administration software, has seen UK assets on its Composer platform grow by 25 per cent to approximately GBP135 billion and active accounts increase by 28 per cent to reach just under three million in the year to the end of December 2019. |
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| Franklin Templeton to buy Legg Mason in USD6.5bn deal | | Thu | 20 Feb 2020, 12:49 | | Franklin Templeton is to become one of the world’s largest independent asset managers, with USD1.5 trillion in assets under management, with its purchase of Legg Mason for USD6.5 billion, including assuming USD2 billion of existing debt. |
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| Global ETF launches 13-20.02.20 | | Thu | 20 Feb 2020, 12:49 | | It may have been a quiet week for ETF launches, but there were still some notable debutants including the first two funds from Europe’s newest ETF provider Rize ETF and a gold ETC from the Royal Mint. Elsewhere, Lyxor expanded its fixed income range with three new ETFs built to provide a more sustainable exposure to High Yield bonds. |
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| | How green is my index? Beyond Investing’s Claire Smith (pictured), creator of the US Vegan Climate Index writes this week’s In My Opinion, asking ‘Are all ESG Indexes as green as you want them to be?’ |
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