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Managed Account Fee Management: Everybody Must Get Paid!Published by: TowerGroup Published: Jun. 16, 2008 Table of Contents
AbstractAs an industry, financial services is built around gathering assets and creating wealth. Methods for paying for this function have changed significantly over the past decade. No longer is the industry based on transaction revenue; rather, it is becoming an advice-based business model in which remuneration takes the form of fees based on the assets involved. Methods for calculating fees have evolved from a simple percentage of the assets to a complex combination of variables. This TowerGroup Research Note examines the growth and complexity of fees in wealth management as pertains to the retail managed account market, characterized for the purposes of this Note as the separately managed accounts and unified managed account products. We also look at the growth of the managed account business in the brokerage industry, the shift from flat-fee-based or assetfee- based billing to a more complex schema, and the additional complexities brought about by the advancement of the products. The Note further highlights the advantages of a sophisticated fee management platform and the potential return on investment that firms might realize in both revenue and value.Get Full Details About This Report >> |
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