Regulation is moving at such a fast pace that it is likely all financial services markets around the world will have banned commission-based investment advice in five years. Wealth managers will no longer get clawbacks and fund providers will drop fees across their fund ranges.
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“If management fees are reduced, the asset management industry could face a situation in which the majority of active managers are unable to beat their benchmarks.” Robert Ruderschmidt, portfolio manager, Overflowing Alpha Asset Management |
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“We will will proactively dialog with regulators, aiming for multi-year discussions that will keep commissions coming until I’m closer to retirement.” Louie Zheng, head of discretionary mandates, Global Behemoth Private Bank |
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This is an automated response. Do not reply to this email. Compliance has declined your request for comment. Fanny Leung, corporate communications, Absolute Zero Risk Investment Management (AZRIM)
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“Well, we had a good run.” Tripp Hutchins, head of global distribution, Low Hanging Fruit Asset Management |
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“We are urging that the industry take immediate steps to create a new paradigm by re-labelling all mention of “fees” or “commission” to “cost”, which our research shows causes less grumbling.” Pollyanna Sim, head of marketing in APAC, StraightTalk Fund Management Group |
