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Pressure on fees spreads to wealth management sector
Published Tue, Aug 8, 2017 · 09:50 PM
Zurich
WEALTH managers' revenue stagnated last year even as firms boosted assets by almost 4 per cent, highlighting how the pressure on fees is spreading to the lucrative business of managing rich people's money.
Companies responded by cutting expenses to bring the cost-income ratio, a measure of profitability, below 80 per cent for the first time since 2012, according to a report published on Monday by Scorpio Partnership.
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