In a highly anticipated move, a Los Angeles judge on Friday moved to formally end the guardianship that has controlled pop star Britney Spears's life for the past 13 years.
The ruling, greeted with raucous cheers by Spears's fans outside the courthouse, brings an end to a conservatorship long overseen by her father, and which the Toxic singer has described as "abusive".
"Effective today ... the conservatorship of the person and estate of Britney Jean Spears is hereby terminated. And that is the order of the court," said Judge Brenda Penny.
The hashtag #FreeBritney was trending on Twitter throughout the day before #FreedBritney began to be used by many.
Spears herself posted an Instagram with the #FreedBritney hashtag shortly after the court decision.
"Good God, I love my fans so much it's crazy," she said.
"I think I'm gonna cry the rest of the day! Best day ever ... praise the Lord ... can I get an 'amen'?"
Fiance Sam Asghari posted another text-only Instagram post that read "FREEDOM" in white text over a pink background, with a caption that read: "History was made today. Britney is Free!"
Both sides in the court reiterated their support for swiftly ending the guardianship at the start of Friday's brief hearing.
While denying he abused his position controlling his daughter's life and career, Jamie Spears has recently acknowledged that his daughter "believes that she can handle her own life".
In dissolving the conservatorship, Judge Penny agreed to a caveat by which John Zabel — the accountant chosen by Spears's lawyers to replace her father — is granted by the court additional powers to manage her estate on her behalf.
The professional conservator Jodie Montgomery was declared no longer responsible for decisions concerning Spears's person, although her lawyer told the judge she would continue to "be there" for "anything Miss Spears needs".
Spears did not address the court Friday via telephone as she did this summer, although her mother and father both dialled in.
Earlier on Friday, the performer was seen wearing a "Free Britney" shirt hours before the court hearing in an Instagram post by Mr Asghari.
"This week is gonna be very interesting for me! I haven't prayed for something more in my life," Spears wrote in a now-deleted Instagram caption on another post this week.
The singer last month successfully had her father removed from the conservatorship that controlled her life and money and a temporary replacement of her choosing was appointed.
Another hearing is scheduled for December to settle outstanding financial issues, including legal fees.
'Free Britney'
Friday's hearing caps a years-long campaign by Spears and her legion of global fans to end a conservatorship that began after her highly public 2007 breakdown, when the shaven-headed star attacked a paparazzo's car at a gas station.
Now 39, Britney has said through her lawyers that her father was "never fit to serve", citing in one petition allegations of his "reported alcoholism" and "trauma he caused his daughter since her childhood".
As momentum has mounted, Spears said in a September filing that she wanted to end the guardianship as soon as possible so that she can marry her fiance, Mr Asghari, with a prenuptial agreement.
Spears has two children with former husband rapper Kevin Federline and had a brief Las Vegas marriage to childhood friend Jason Alexander that was annulled after only 55 hours.
She has previously alleged in court that she had been prevented by her father from having a contraceptive IUD removed, despite wanting more children. Her father denied the allegation.
He was removed from the guardianship with immediate effect at last month's hearing, with Mr Zabel installed to care for her finances.
A raucous army of fans bearing "Free Britney" signs have been a regular fixture outside the Los Angeles courthouse during hearings.
Supporters organised a "Termination Rally" Friday, with a so-called "Freedom Party" to follow across town in West Hollywood.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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