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Wealth managers to see margin squeeze, says KPMG Consulting

Wealth managers will see their margins plummet to 1 per cent of assets on mass affluent portfolios, according to a report by KPMG Consulting.

The report says that margins will be driven down to levels similar to those on &#39vanilla&#39 retail products.

KPMG Consulting director John Pattison says: “Financial services companies have been piling into this market, but it is emphatically not a licence to print money. Intensifying competition and increased transparency will squeeze profits and lead to a radical restructuring of the wealth management marketplace.”

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Merrill Lynch HSBC – Self-Select Maxi Stocks and Shares Isa

Friday, December 7, 2001.Type: Maxi stocks and shares Isa.Aim: Growth by investing in stocks and shares.Minimum investment: £500.Maximum investment: £7,000.Catmarked: No.Charges: None.Commission: None.Tel: 08456 080805.

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