Next Financial miss-selling crisis? Future of Fund Management. Future Banking

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Watch interview at ICBI Global Fund Management summit - Patrick Dixon, following keynote to fund management industry.

Restoring the Fund Management Trust Gap with consumers:

A significant proportion of fund managers (often the majority) at events I have spoken at over the last few years lack confidence in their own actively managed investment funds.

For example many tell me (straw polling during presentations) that they do not recommend their own products to friends and family, and do not commit their own wealth into their own funds unless they need to as part of the job.   If fund managers do not believe they are adding value, it becomes a serious ethical issue if those retail funds continue to be actively marketed.

Life is too short to sell things you don’t believe in.

People who sell financial products which they "know" are likely to be poor investments are likely to be publicly criticised at best or at worst to land up in prison.

Expect fundamental reforms of the fund management industry with changes in transparency, pricing, commission mechanisms, performance-related rewards, new rules for marketing and selling of these important investment products.

For article - more on Future of Fund Management.



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