Banks Face New Profit Hit as Money Managers Seek to Bypass Them
- State Street survey: 44% of funds to sell direct to retail
- MiFID II may hasten the trend as regulatory, tech stars align
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Banks and insurers, beware: your role as middlemen in the sale of investment products may be under threat.
Forty-four percent of fund managers plan to sell more products directly to retail clients over the next five years, according to a State Street Corp. survey of 250 firms in 15 countries.