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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.”


Bankhall building up strength

Bankhall has made six senior appointments to reinforce “its long-term commitment and support to the IFA sector”. The move has fuelled speculation that the support firm wants to stay independent and could be preparing an management buyout. Parent Lynx said it was in talks with a potential buyer recently. The Bankhall board has around a […]

With-profits must change to survive

Malcolm Lindley&#39s letter (Money Marketing, December 6) neatly demonstrates all that is bad about with-profits at the current time and why radical change is so vital if the concept is to survive. The letter documents the process for getting an increased payout on a with-profits policy – hope for a coincidence (in this case, getting […]

DBS blames N2 as it ups member charges

DBS has increased members&#39 charges, blaming the increased cost of regulation post-N2. Under the new pricing structure, members with turn-overs below £80,000 a year will see DBS&#39s commission share rise from 12.5 per cent to 15 per cent and they will pay a new “investment adviser” fee of £100 a month per RI. DBS says […]

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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