- UBS and Campden Wealth study has found that just 10 out of 262 of the world’s richest families suffered a decline in wealth in 2016. Three-quarters of the families increased their wealth, while 22% reported no change. The average return generated by family offices, which manage wealth for rich families, came in at 7%.
- Boring Money has reported that robo-advisers are spending between £200 and £500 on acquiring each customer, while banks typically spend less than £100 to convert existing customers
- HSBC and the venture capital fund IGNIA have announced their support for Startupbootcamp FinTech Mexico. HSBC Mexico and IGNIA join Visa, BanRegio and EY Mexico among the corporate partners backing the programme
- ING in Germany is to roll out a digital wealth management service in a pilot project with robo-advisory start-up Scalable Capital. If the pilot scheme proves successful, the bank will look to introduce it across other European markets
- Vanguard has launched its first actively managed bond fund in the UK. The Global Credit Bond fund will carry a 0.35% ongoing charge and will target global credit bonds.
- Amazon’s 1-Click patent has expired, which makes the technology available to other e-commerce websites
