Wealth managers see turnaround in net new money
Global private banks saw an average increase in inflows of 23.7% last year, driving industry AUM to $18.5 trillion, finds Scorpio Partnership. But the top 20 are pulling away.
Global wealth managers saw a dramatic turnaround in net new money last year, with the majority now sourced from emerging markets, according to Scorpio Partnership.
In research set to be released today, London-based Scorpio finds that on average global wealth managers saw a 23.7% rise in new inflows for 2012, compared with a decline of 27.9% in 2011.
This is a turnaround for the industry, which has struggled to attract new client assets amid a loss of client trust on the back of …
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