All articles by Charles Davis

Charles Davis

Northern Lights: CIBC and RBC

The Canadian wealth market, solidly in post-recession mode, has seen its fair share of moving and shaking in recent months. Charles Davis talks to two of Canada’s big wealth managers, Royal Bank of Canada and Canadian Imperial Bank of Commerce

US community banks pan for gold in wealth sector

With many people chasing higher investment yields because theyre earning little off their bank accounts, community banks see an opportunity to offer private banking services A growing number of smaller US banks and credit unions are getting into wealth management services, once the sole province of very large institutions.

Young affluents send warning signals

Wealth managers, in the US and wider afield, face a lethal generation gap, as younger generations poised to inherit billions of dollars in the next few years see little need for exclusive financial planning relationships.

Could complexity cloud ETF horizon?

As the increasing complexity of these passive products draws scrutiny from regulators, Charles Davis talks to Aite analyst John Jay about the growth in fixed-income ETFs. The rapidly expanding exchange traded fund (ETF) industry has new and existing players trying to capture new money by broadening their product range.

Beating the margin squeeze

Private banks may have ridden through the perfect storm of lower asset bases, cautious market behaviour and a shift toward low-margin financial products, but not without long-lasting impact Charles Davis examines how private banks are dealing with margin squeeze as costincome ratios hit 10-year highs.

Fiduciary duty in US Reform Bill ‘game changing’

President Obamas Financial Reform Bill could require financial advisers, including wealth managers, to have a fiduciary duty to all clients for all financial instruments. The Financial Reform Bill, which was signed into law yesterday by President Obama, launches a wide range of initiatives including an independent consumer-protection bureau around financial products and a restriction on banks making proprietary investments that do not benefit clients, including in hedge funds and private equity funds.

Fiduciary duty in US reform spotlight

The reform to major portions of the Americas financial system, named the Financial Reform Bill, is set to create a myriad of ripple effects across the US banking system Charles Davis speaks to US-based wealth managers for their take on its impact as this landmark legislation inches closer to becoming law.

HIRE Act’s ‘massive’ burden on wealth managers

The US Hiring Incentives to Restore Employment (HIRE) Act, which President Obama signed into law on 18 March, also contains a little-noticed foreign account provision that will impose expansive new information reporting and compliance requirements on foreign financial institutions and other foreign persons.

HIRE Act to be ‘massive’ burden

The US Hiring Incentives to Restore Employment (HIRE) Act is more intrusive than any piece of tax legislation outside the borders of the US and the implications have not yet begun to sink in abroad, according to a US wealth management specialist. In the upcoming edition of Private Banker International, Louis Marett, co-chair of the Tax Group at Choate, Hall & Stewart in Boston, a wealth management specialist said the act was breathtaking in scope. The HIRE Act requires financial institutions to identify and disclose US account holders, or become subject to a new 30 percent withholding tax regime with respect to any payment of US source investment income and proceeds from the sale of equity or debt instruments of US issuers.

ETFs return to favour

To William Thomas, chief executive of San Francisco money manager Grail Advisors, actively-managed exchange-traded funds (ETFs) are the mutual funds of the future.