RSS feedsIt points to intensifying competition and increased transparency within the wealth management market as the main squeeze on profits. Merrill/HSBC recently shed 25% of employees from its new wealth management venture.
Wealth managers are seeing their margins drop to one percent of assets on mass affluent portfolios, according to a report by KPMG Consulting.
It points to intensifying competition and increased transparency within the wealth management market as the main squeeze on profits. Merrill/HSBC recently shed 25% of employees from its new wealth management venture.
