Beware of Retail Banking’s Present becoming Asset Management’s Future

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Asset Management, Fintech, Retail Banking

vered-zimmerman

Vered Zimmerman

Investment Writer

Copylab


At first glance, asset management may seem nothing like retail banking: no chain of branches to operate, no round-the-clock call centres. But technology is disrupting both sectors in similar ways: as services become commoditised, clients turn to lower-cost, self-managed alternatives.

Last week, at The Financial Services Forum’s Annual Members’ Conference, experts met to discuss the finance industry’s future. To some, struggles to adapt are already here. Asset managers may sigh in relief hearing that it’s retail banking suffering most; given the scale of the changes, they shouldn’t.

With their index-tracking funds, providers like BlackRock and Vanguard are competing fiercely to take business away from…

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