UK: KPMG report calls for wealth management reform
Article Abstract:
KPMG Consulting has warned in a new report entitled Managing Margin Meltdown, that rises in personal wealth may cause wealth management company profits to decline to 1% of assets on mass-affluent portfolios. The report has called for radical changes in the marketplace pointing to the recent closure of Lazard Brother's wealth management unit and Merrill Lynch's job cuts in its new venture. KPMG has suggested a federated financial services model which would provide tailored services packages for clients, and has emphasised the need to monitor providers' performance and the importance of client loyalty.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: Rothschild multi-manager stripped of house funds
Article Abstract:
Rothschild has stripped its Five Arrows investment portfolio of all its in-house funds in move which may set a precedent among multi-managers and fund providers. Marketing chief of Five Arrows has claimed the service will avoid corporate issues and be fully independent, concentrating on pure management decisions.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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