The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
The Royal Bank of Canada (RBC) has launched a discretionary management service aimed at solicitors' private clients. The Strategic Investment Portfolio (SIP), has a minimum investment of only u25,000.
Philip Darwall-Smith of Royal Bank of Canada Investment Management says: "After discussions with professional firms we have brought our minimum down from u200,000."
Clients will be directly invested in equities and bonds in one of three standard portfolios: income aimed at providing higher returns than from deposits and some capital growth; balanced, designed to achieve returns greater than from the FTSE 100 for both capital and income, and growth, looking for long-term capital growth. The portfolios will typically be invested in about 20 securities.
The new service is based on a computerised investment management system developed by Credit Suisse. RBC hopes to build a family of portfolios investing in specialised areas.
SIP is available with a 3 per cent front end charge payable to the introducer and a 2 per cent annual management fee, plus a 0.5 per cent annual trail fee.
"Solicitors can offset our fees to their clients and the annual management fee reduces to 1.5 per cent," says Darwall-Smith.
There are no other charges apart from stamp duty on purchases.