10.14.19
Fund Managers Try Financial Planning as Indexing Cuts Profit
by: Conrad De Aenlle
As investors flock to low-cost index funds that generate only modest revenue for fund companies, some asset managers are turning to financial planning to boost revenues. Fund companies have introduced an assortment of services to assist financial advisors, or to take the task off the advisors' hands entirely. Morningstar estimates that advisors have invested nearly $35 billion in model portfolios provided by big fund companies and other turnkey asset management providers, compared to $13.6 billion at the end of 2016.
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