With so many high-profile financial meltdowns, mere existential angst among fund managers can pass unnoticed. Globally, retail assets fell 22 per cent last year, according to the Boston Consulting Group, with the US hardest hit. Falling markets were not solely responsible. Fed up with poor advice, clients rushed into low-cost exchange-traded funds or savings accounts. With operating margins at five-year lows, wealth managers – from buttoned-up Swiss bankers to swashbuckling US retail brokers – are having a quiet crisis.
鑒于有如此眾多的高調金融破產，基金經理層面的生存憂慮可能不會引起人們的注意。波士頓咨詢集團(Boston Consulting Group)的數據顯示，去年，全球零售資產下跌22%，美國受到的打擊最為嚴重。對此負有責任的不僅僅是不斷下跌的市場。客戶聽夠了不明智的建議，紛紛涌入低成本的交易所交易基金(ETF)或儲蓄賬戶。由于營運利潤率處于5年低點，從一本正經的瑞士銀行家到虛張聲勢的美國零售經紀商，理財經理們正面臨一場無聲的危機。
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