Financial Standard Comments - GFC derails wealth fee growth by $30bn The global financial crisis cost the Australian funds management industry an estimated $30 billion in potential revenues, according to new research from Rainmaker Information. https://www.financialstandard.com.au/feed/latest?story=26424926 Mon, 25 Mar 2013 18:16:58 +1100 Mon, 25 Mar 2013 18:16:58 +1100 en-AU Copyright 2026 Financial Standard 5 Comment by Gratuitous Adviser (Not Supplied) During September 2007, I attended an extravaganza [held by a consulting group] that was promoting their amazing abilities with "Increasing Alpha" and the resultant justification for higher fees. I do not remember them mentioning anything about subprime lending, housing bubbles and Ireland and the financial vulnerabilities of southern European countries and so on and so on. I presume [their] peers were doing the same marketing and we all know where it ended up.

The Australian funds management industry lost an estimated $30B. So what, the Australian funds management industry should have been better at what they do so their clients did not lose the estimated $1T.

I'm still not aware of any vested interest that said at the time "hold on, the situation is not sustainable".

Reply to article

For original story, Click Here.

]]> Gratuitous Adviser (Not Supplied) Mon, 25 Mar 2013 18:16:58 +1100