Family Offices
Is Bitcoin the digital equivalent of gold?
As with most asset classes in the lead up to March 2020, Bitcoin prices cruised into the new year in 2020 racking up a 44% rise.
May 18, 2020
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Family Office News
Family Offices
Walton Family Office Moved $48 Billion of Walmart Shares to Family Trust
According to regulatory filings in March 2020, Walton Enterprises LLC transferred 415 million shares, or roughly 15% of Walmart’s outstanding shares, to the Walton Family Holdings Trust. The value was estimated at US$ 48 billion. The migrated shares represented about 29% of the shares held by Walton Enterprises. Post-transaction, Walton Enterprises now owns about 1,000,891,131 shares of Walmart.
May 18, 2020
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Family Offices
Ashcroft Partnership LLP launched as successor business to Cambridge office of BKL
Ashcroft Partnership LLP has been launched as the successor business to the Cambridge office of BKL, following a demerger. Focused on business and tax advice, corporate finance and private client services, the 40-strong team in the office have transferred over to Ashcroft following the partner buy-out.
May 17, 2020
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Business
THE OWNER OF SOUPLANTATION AND SWEET TOMATOES FILES FOR CHAPTER 7 BANKRUPTCY
Garden Fresh Restaurants, the owner of buffet-centric chains Souplantation and Sweet Tomatoes, has filed for Chapter 7 bankruptcy protection as the company opts to liquidate its assets and close its doors for good.
May 17, 2020
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Family Offices
Edward Jones: How We’re Adapting to the COVID-19 ‘New Normal’
No organization could have anticipated the unprecedented global implications of COVID-19. The swift and relentless nature of the pandemic impacted the global economy in ways not seen during previous crises. Businesses across all industries were faced with critical decisions as they executed business continuity plans.
May 17, 2020
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Investment
Wealthech Smarterly Raises £7 Million in Series A Funding led by Major Oak
Wealthtech firm Smarterly has raised £7 million in a Series A funding round led the family office of Major Oak that provided £5 million.
May 16, 2020
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Advisors
New Webinar and Whitepaper Highlight Key Benefits of Collective Investment Trusts for Retirement Plan Advisors
Wilmington Trust, a leader in institutional trust services and the first financial institution to launch searchable tickers for collective investment trusts (CITs), recently hosted a webinar and launched a new whitepaper to highlight the advantages of CITs for advisors working with sponsors of defined benefit and defined contribution plans – particularly 401(k) plans.
May 16, 2020
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Technology
U.S. funds rush to tech companies and battered energy stocks in first-quarter
Prominent U.S. fund managers piled into big-name technology stocks and bottom-fished in the beaten-down energy sector as markets reeled from the coronavirus-fueled selloff in the first quarter, regulatory filings released on Friday showed.
May 16, 2020
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Family Offices
Regal Wealth Management Partners With Merchant Investment Management and Opens Its Doors in New York City
Bryan Staff, Managing Partner of Merchant Investment Management (“Merchant”), today announced the launch of Regal Wealth Management (“Regal”), an SEC Registered Investment Advisory firm based in New York City.
May 15, 2020
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Family Offices
Coronavirus crisis a window of opportunity for bankers to the rich
When markets slumped in March as the spread of coronavirus gathered pace, wealth managers’ trading volumes soared as ultra rich clients reshuffled their portfolios.
It was this market frenzy that helped Swiss banks UBS and Credit Suisse – the world’s biggest wealth managers – post bumper first-quarter profits while much of the global banking sector was scrambling to make provisions to withstand the economic fallout from the pandemic.
May 15, 2020
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