Tag: Wealth management

Ruth Sullivan

many are up for sale

Private jets: many of the super-rich have been forced to put their jets up for sale

We are used to hearing the rich are getting richer but the credit crunch last year has taken its toll. Now it seems the rich are getting poorer faster than anyone else.

This is certainly a change of direction for wealthy investors as Merrill Lynch unfurls its global wealth management annual report today.

Pauline Skypala

Wealthy may enjoy luxury yachts, but they are paying too much for wealth management

Wealthy may enjoy luxury yachts, but they are paying too much for wealth management

Pity the poor private client – well poor is probably the wrong word, but apparently the wealthy are getting a bum deal from many of the advisers and private banks that look after their money.

They pay the highest fees and get the worst performance, according to Alan Miller, former chief investment officer at New Star Asset Management and now partner at Spencer-Churchill Miller, a wealth management boutique.

Mr Miller has seen the light and is using low cost exchange traded funds to build portfolios for clients, as he explains in a video interview. He says making asset allocation calls is the key to making money, rather than picking stocks.

About the blog

FTfm is no longer updated but it remains open as an archive.

FTfm's specialist writing team offer their insights into the global fund management industry.

About the authors

Pauline Skypala has been editor of FTfm for four years having previously been deputy personal finance editor. She joined the FT in 1999 and has been writing on savings and investment issues throughout her career.

Steve Johnson, FTfm deputy editor, has been a journalist for 17 years, 10 of which have been with the FT.


Sophia Grene, reporter on FTfm, has been a financial journalist in print and online for 12 years.

Ruth Sullivan has worked as a financial/business journalist and foreign correspondent and for the past 10 years has been at the FT.

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