Manulife targets Canada’s rich in industry a decade behind U.S. [Business News Network (BNN) Energy & Resources (Canada)]
Manulife Financial Corporation (MFC)
Last manulife financial corporation earnings: 2/12 05:00 pm
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Source: Business News Network
Manulife targets Canada’s rich in industry a decade behind U.S. Manulife Financial Corp. ( MFC.TO ) plans to more than double assets in its wealth unit and hire five new portfolio managers as it targets the growing business of Canada’s rich. Canada is about 10 years behind the U.S. in offering financial services to the wealthy under one umbrella -- from investment management to tax planning -- and the industry is ripe for growth and consolidation, said Glen Brown, head of Manulife Private Wealth. "Five years ago, you would see the average person dealing with 4.7 different advisers. It’s now under three," Brown, 49, said in an interview at Bloomberg’s office in Toronto. "So we’re bringing in money from other firms from clients that had maybe three or four managers and have consolidated things with us.” Manulife Asset Management has about $364 billion under management. It doesn’t break down assets in its wealth unit but Brown said the 45-person team currently caters to about 400 househo
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MFC
Earnings
- 2/14/24 - Beat
MFC
Sec Filings
- 3/25/24 - Form 6-K
- 3/22/24 - Form 6-K
- 2/28/24 - Form S-8
- MFC's page on the SEC website