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Costs still high for wealth managers

Boston Consulting Group warns that 2013's cost-to-income ratio improvement may not be sustainable. GENEVIEVE CUA reports
Wednesday, June 11, 2014 - 06:00

WEALTH managers' cost-to-income ratio improved in 2013, helped largely by asset appreciation. But Boston Consulting Group (BCG) warns in its latest global wealth report that the improvement may not be sustainable as cost levels have actually remained high. Asia-Pacific wealth managers' cost-to-