Private banking in region shifting to fee-based model: BOS
Clients can see the advantage of managed portfolios at a time of volatility in global financial markets, adds CEO
Tue, May 17, 2016 - 5:50 AM
Mr Shaari sees the trend towards fee-based advice continuing in Asia, adding it's possible that the proportion of BOS client assets in managed and discretionary portfolios will rise to 40% in future.
BANK of Singapore Ltd (BOS), which recently bought the wealth-management units of Barclays plc in Asia, sees the region's private-banking industry shifting towards a fee-based model at the expense of the traditional practice of charging rich clients commissions on their...