Wealth hard hit by Brexit vote

The U.K.’s referendum to leave the European Union was a costly decision in more ways than one. Worldwide markets hemorrhaged more than $2 trillion in paper wealth on Friday, according to data from S&P Global, the worst on record. For context, that figure eclipsed the whipsaw trading sessions of the 2008 financial crisis, according to […]

Extraordinary fraud of ‘frak expert’

A supposed shale gas expert who toured the world’s media and even gave evidence to MPs calling himself the ‘Frack Master’ was actually a massive fraudster who duped investors out of millions of pounds to fund a debauched lifestyle, US investigators have alleged.

Banks ready to move jobs from City

Banks are preparing to shift roles out of London amid the uncertainty about whether the UK can keep its “passporting” rights allowing them to operate across the EU.

Guernsey foundations vs. trusts

Service providers have reported that the Guernsey foundation is particularly appealing to clients in the Middle East, Asia and South America, according to Dominic Wheatley of Guernsey Finance. This is primarily because of how the foundation can offer a similar feel to a private family company set-up, unlike trusts, which are rooted in common law. […]

‘One-stop shop’ for millenials urged

Millennials, the generation aged 18-34, need a “one-stop shop” where they can go to find information on how to invest, the UK’s Wealth Management Association (WMA) has urged. Speaking at the WMA’s Millennial Forum 2016 last week, Oliver Mustin, a chartered wealth manager at BRI Wealth Management and WMA member, believes the industry is ready […]

London climbs millionaire rankings

While London now has one millionaire for every 29 inhabitants, or 3.4 per cent of the population. The UK capital has climbed from sixth to fifth place in a ranking of the world’s top cities per capita for people with net assets worth $1m (£0.7m) or more, excluding the value of their main house. London […]